The Price of Time

In this insightful audiobook, Edward Chancellor delves into the history and significance of interest, exploring its role in lending practices over the past five millennia. He examines how interest, often viewed as the "price of money," is more accurately understood as the "price of time," reflecting its critical functions in saving, asset valuation, and risk pricing. With interest rates at historic lows following the 2007/2008 financial crisis, Chancellor discusses the repercussions of easy money, including asset bubbles, decreased productivity, and increasing inequality, highlighting the vital importance of understanding interest in capital allocation and economic stability.