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  • The Price of Time

  • The Real Story of Interest
  • Written by: Edward Chancellor
  • Narrated by: Luis Soto
  • Length: 15 hrs and 7 mins
  • 4.8 out of 5 stars (13 ratings)

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The Price of Time

Written by: Edward Chancellor
Narrated by: Luis Soto
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Publisher's Summary

In the beginning was the loan, and the loan carried interest. For at least five millennia people have been borrowing and lending at interest. Yet as capitalism became established from the late Middle Ages onwards, denunciations of interest were tempered because interest was a necessary reward for lenders to part with their capital. And interest performs many other vital functions: it encourages people to save; enables them to place a value on precious assets, such as houses and all manner of financial securities; and allows us to price risk.

Interest is often described as the "price of money," but it is better called the "price of time:" time is scarce, time has value, interest is the time value of money.

Over the first two decades of the twenty-first century, interest rates have sunk lower than ever before. Easy money after the global financial crisis in 2007/2008 has produced several ill effects, including the appearance of multiple asset price bubbles, a reduction in productivity growth, discouraging savings and exacerbating inequality, and forcing yield starved investors to take on excessive risk. In this enriching volume, Chancellor explores the history of interest and its essential function in determining how capital is allocated and priced.

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.

©2022 Edward Chancellor (P)2022 Tantor

What listeners say about The Price of Time

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  • Philo
  • 2022-08-29

Big landscape in time and subjects; Austrian view

It was great to hear of all these events, as filtered through the ideas of Hayek, etc. It caused me to reflect much more deeply on interest rates, and their management and (recent) mismanagement. Distortions in our economy now, are unpacked and explained with precision and lively writing.

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  • John
  • 2022-11-25

Must read

One of the most important biz books I ever read. Absolute must read. I hope this author continues to write more books

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  • Mike A
  • 2022-08-31

Fine narrator, poor material

I enjoyed Edward Chancellor's book Devil Take the Hindmost very much so I expected to like this as well. The material just didn't work for me, it was just a string of anecdotes without really telling a "story" in any cohesive way. I didn't finish the book.

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  • D. J. Schultz
  • 2022-09-12

Could be the basis for a popular university course!

Super interesting presentation. An incredible amount of material is covered in just the right amount of detail to make the authors points. Very understandable for the reasonably intelligent non-economist and contains ample citations throughout. The best part is that it is an enjoyable listen. Well done!

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  • Brad
  • 2022-09-10

Very informative

A remarkable summary of the concept of interest over time. The book finishes very strong with with the analysis of the past few decades use of ultra low interest rates and the damage it is causing the global economy.

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  • Hansell S.
  • 2023-11-19

Fantastic

Required reading for every citizen globally. We have to educate ourselves to prevent repeating mistakes. Full stop.

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  • Thinker Mom
  • 2023-09-22

Books matter and this one is is crtical

This was an incredible book and relevant for today's issues. It shows where we are now and how this has been repeated over and over. We never see it because we never look back.

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  • Joe
  • 2023-09-21

historical survey of theories on interest rates

Tons of info here... I gave up taking notes and decided I'll have to do that on my second listen. It sneaks a fair amount wit and humor into a pretty densely intellectual discussion, and it's very well-written stylistically, but this book is more for nerding-out than for casual entertainment. I learned way more here than in the economics courses I took.

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  • Jose
  • 2023-09-08

Encyclopedic analysis of Credit

This is an extremely high quality historical analysis of credit and the impact on the great economy. In this excellent book, Economics is treated like a discipline with an objective function.

Gives you context on national finance, macroeconomics, monetary policy, law, corporate finance, real estate, and equity investments. This is an excellently well narrated book.

He even KO's clowns like Paul Krugman, Thomas Piketty, and JM Keynes. This is a fun economics book.

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  • Shen Li
  • 2023-09-02

Great book/ name pronunciations suspect

The price of time is a sweep overview in monetary policy post renaissance- highly recommended. Narrator’s constant shifting tones and strange pronunciations of names, especially modern characters, slightly distract from book (only slightly….)

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