A Brief Note on Bank Circulation Credit and Time Preference

Thorsten Polleit ()
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Thorsten Polleit: University of Bayreuth

A chapter in The Emergence of a Tradition: Essays in Honor of Jesús Huerta de Soto, Volume I, 2023, pp 227-236 from Springer

Abstract: Abstract The issuance of fiat money through bank circulation credit raises peoples’ time preference. This is a theoretically important aspect in the ABCT: It reveals that bank circulation credit expansion effectively causes a distortive “revaluation of all values,” affecting all kinds of human action. One can interpret this insight as an additional economic and ethical argument that can be critically leveled against the fiat money regime.

Keywords: Praxeology; Time preference; Originary interest rate; ABCT; Fiat money (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-17414-8_19

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DOI: 10.1007/978-3-031-17414-8_19

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