Can anybody summarise Hulsmann theory of interest? I've heard he departs from the Misesian tradition on this but I'm not sure how, could anybody provide links as well.
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Hulsmann: CONCLUSION Originary interest does not spring from the passing of time, but from the value relationship between means and ends. The means of action are inherently less valuablethan the ends they serve. Therefore there is a value spread between means and ends—originary interest—in all human actions in which means and ends can be distinguished.
CONCLUSION
Originary interest does not spring from the passing of time, but from the value relationship between means and ends. The means of action are inherently less valuablethan the ends they serve. Therefore there is a value spread between means and ends—originary interest—in all human actions in which means and ends can be distinguished.
souce.
That's great, thanks.
Do you think he makes his case?
I saw Hulsmann speak about this in August of 2006 at Mises University. I should probably read that article, I forgot how intriguing the idea was.
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David Z
"The issue is always the same, the government or the market. There is no third solution."