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The Austrian Subjectivist Theory of Interest

An Investigation Into the History of Thought

The renaissance of Austrian economics since the seventies has led to a revival of a «purely subjective» pure time preference theory of interest. This theory has been developed particularly in the U.S. on the foundations of Böhm-Bawerk's agio theory. This

The present book critically investigates in historical sequence all known versions of the subjectivist theory of interest and offers a reformulation of the theory along essentialist lines.