Pour Choquer le Professeur Block - Originary Interest: Production Phenomenon or Credit Phenomenon?
Pour Choquer le Professeur Block - Originary Interest: Production Phenomenon or Credit Phenomenon?

Author(s): William Barnett II
Subject(s): Business Economy / Management, Economic policy, Financial Markets
Published by: Addleton Academic Publishers
Keywords: Walter Block; originary interest; time preference; credit transactions; interest rates;
Summary/Abstract: It was barely 20 years ago that I first met Walter Block. It turned out that in many ways we were, and remain, kindred spirits. In the decades since then we have become friends, colleagues, and collaborators. One thing that has become obvious, and is manifest in, e.g., Defending the Undefendable [sic], is that almost nothing gives Walter as much pleasure as épater les bourgeois. It is in that spirit that this paper is offered to him. It concerns, to the best of my knowledge, one of the only two issues in economics about which, after untold discussion, we continue to disagree; to wit: the nature of interest and interest rates.

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