Hey there, My Money Box Community! đź‘‹
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. đź’Ľđź’°
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 