Hey there, My Money Box Community! 👋
My next read promises to take me back in time, to reveal the ‘real story of interest’. My latest pick is Edward Chancellor’s book, “The Price of Time: The Real Story of Interest.”
Fascinatingly, the book delves into the history of interest and expertly unearths its pivotal role in allocating and pricing capital. 💼💰
In the realm of finance, interest is often considered as the “price of money.” However, Chancellor compels us to view it from a different lens. He asserts that interest better represents the “price of time” and rightly so. After all, time is a precious, limited resource, possessing value of its own. Therefore, it stands to reason that interest is the cornerstone of the time value of money.
Interest rates, arguably, are the pulse of a market-based economy. They impact every crucial financial decision, be it saving, spending, or investing. They are the virtual compass that guides our monetary actions.
I look forward to this journey as I peek into the historical scrolls of interest rates and their sweeping influence on the world of finance.
My Money Box 