What are interest rates, where do they come from, and what purpose do they serve? Smith, Marx, and Keynes got these questions wrong; Turgot, Böhm-Bawerk, and Mises got them right. Economist Jeffrey Herbener from Grove City College explains.

Readings

"The Brilliance of Turgot" by Murray RothbardProfile of Böhm-Bawerk by Roger Garrison

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