Bob goes solo in his continuation of his series on Capital & Interest Theory. In this episode he explains Bohm-Bawerk’s solution to the problem of interest, namely that present goods are more valuable than future goods. Bob also explains Bohm-Bawerk’s three separate causes for the higher valuation of present over future goods, including the notorious…

Bob goes solo by beginning his 3-part series devoted to Capital & Interest Theory in the tradition of the Austrian School. (This is his area of expertise and the focus of his doctoral dissertation.) In this episode, Part 1, Bob explains Bohm-Bawerk’s critique of the “naive productivity theory” of interest, and also reconciles it with…