Conclusion

Cem Eyerci

Chapter Chapter 8 in The Causes and Consequences of Interest Theory, 2021, pp 147-161 from Springer

Abstract: Abstract The Conclusion summarizes the issues relevant to the concept of interest in aspects of meaning, history, and nature, by presenting the debates on its legitimacy, causes of its existence, and consequences of interest rate control. It sums up the reasons for restricting it and the methods used. The chapter briefs the theoretical development of the thought on interest and Böhm-Bawerk’s significant contribution, and then shortly exhibits the destructive consequences of interest rate control in the market. It presents the basics of Islamic economics by focusing on the prohibition of interest and briefly reviews the approach of Islamic economists to the issues of time preference and interest rate control. Finally, the chapter concludes that the need for a comprehensive scrutinizing of the concept of time preference from an aspect of Islamic economics is not met, and the issue of the consequences of interest rate control has received far less attention.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-78702-8_8

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DOI: 10.1007/978-3-030-78702-8_8

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