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⏳ Time Preference | Interest Rates
 
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Time preference and interest rates - Two mechanisms coordinating production in time. To correctly understand business cycles and where economic crises come from, we need to understand these two concepts. Learn Austrian Economics in a fun way! LINKS SUPPORT our project: http://bit.ly/2fgJR9e Visit our website: http://econclips.com/ Like our Facebook page: http://bit.ly/1XoU4QV Subscribe to our YouTube channel: http://bit.ly/1PrEhxG ★★★★★★★★★★★★★★★★★★★★★★★★★★ Music on CC license: Kevin MacLeod: Home Base Groove – na licencji Creative Commons Attribution (https://creativecommons.org/licenses/...) Źródło: http://incompetech.com/music/royalty-... Wykonawca: http://incompetech.com/ Over Time ★★★★★★★★★★★★★★★★★★★★★★★★★★ Econ Clips is an economic blog. Our objetive is teaching economics through easy to watch animated films. We talk about variety of subjects such as economy, finance, money, investing, monetary systems, financial markets, financial institutions, cental banks and so on. With us You can learn how to acquire wealth and make good financial decisions. How to be better at managing your personal finance. How to avoid a Ponzi Scheme and other financial frauds or fall into a credit trap. If You want to know how the economy really works, how to understand and protect yourself from inflation or economic collapse - join us on econclips.com. Learn Austrian Economics in a fun way!
Views: 7974 EconClips
What is TIME PREFERENCE? What does TIME PREFERENCE mean? TIME PREFERENCE meaning & explanation
 
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What is TIME PREFERENCE? What does TIME PREFERENCE mean? TIME PREFERENCE meaning - TIME PREFERENCE definition - TIME PREFERENCE explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. In economics, time preference (or time discounting, delay discounting, temporal discounting) is the relative valuation placed on a good at an earlier date compared with its valuation at a later date. There is no absolute distinction that separates "high" and "low" time preference, only comparisons with others either individually or in aggregate. Someone with a high time preference is focused substantially on his well-being in the present and the immediate future relative to the average person, while someone with low time preference places more emphasis than average on their well-being in the further future. Time preferences are captured mathematically in the discount function. The higher the time preference, the higher the discount placed on returns receivable or costs payable in the future. The time preference that an individual exhibits at any given moment is determined solely by their personal preferences. As such, if one "prefers" to save his money but cannot do so in the present, he is still considered to have a low time-preference. One of the factors that may determine an individual's time preference is how long that individual has lived. An older individual may have a lower time preference (relative to what he had earlier in life) due to a higher income and to the fact that he has had more time to acquire durable commodities (such as a college education or a house). The time preference theory of interest is an attempt to explain interest through the demand for accelerated satisfaction. This is particularly important in microeconomics. In the neoclassical theory of interest due to Irving Fisher, the interest rate determines the relative price of present and future consumption. Time preference, in conjunction with relative levels of present and future consumption, determines the marginal rate of substitution between present and future consumption. These two rates must necessarily be equal, and this equilibrium is brought about by the relative prices of present and future consumption. A practical example is if Jim and Bob go out for a drink and Jim has no money so Bob lends Jim $10. The next day Bob comes back to Jim, and Jim says, "Bob, you can have $10 now, or at the end of the month when I get paid I will give you $15." Bob's time preference would change depending on if he trusted Jim and how much he needs the money now, thinks he can wait, or would prefer to have $15 at the end of the month than $10 now. Present and expected needs, present and expected income affect the time preference.
Views: 3837 The Audiopedia
#1 Time Value of Money (Introduction) - Financial Management (FM) ~ For B.Com/M.Com/CA/CS/CMA
 
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Explained the concept of time value of money. Further CVF, CVAF, PVF and PVAF tables are explained. Student can also watch the following lectures related with the same topic : 1. Present Value of Perpetuity : https://www.youtube.com/watch?v=gVxvJ_JTiug 2. Time Value of Money (Problem & Solution) : https://www.youtube.com/watch?v=UTCyi_OdRYE 3. Utility of CVF, CVAF, PVF and PVAF in Financial Management : https://www.youtube.com/watch?v=WBOMLP7oXU4 4. Application of PVAF, CVAF, PVF and CVF tables in Financial Management : https://www.youtube.com/watch?v=XNCPVqLeFi8 5. How to calculate PVF, PVAF, CVF, CVAF values on calculator : https://www.youtube.com/watch?v=cUTDq6hpais Connect on Facebook : https://www.facebook.com/ca.naresh.aggarwal Download Assignments: https://drive.google.com/drive/folders/0BzfDYffb228JNW9WdVJyQlQ2eHc?usp=sharing #TVM #FinancialManagement
Views: 120211 CA. Naresh Aggarwal
Time Value of Money - Hindi
 
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Time value of money is explained in hindi. Let's understand Power of Compounding, Present Value and Future value concepts. We will also learn about Simple Interest and Compound Interest & how they work in investing in the upcoming videos. Related Videos: Future Value - https://youtu.be/BFRGWenwulc Future Value of an Annuity - https://youtu.be/f6a7E3326QQ Future Value of Uneven Cash Flows - https://youtu.be/yHoTUk8HP-c Present Value - https://youtu.be/pxm-5MBO2dg Present Value of an Annuity - https://youtu.be/0giLqLyijtc Net Present Value (NPV) - https://youtu.be/SpHIBfPGwx8 Internal Rate of Return (IRR) - https://youtu.be/x6eXfx2Tv-w Rule of 72: https://youtu.be/BFRGWenwulc इस वीडियो में समय और पैसे के मूल्य को हिंदी में समझिये। चलिए कम्पाउंडिंग, प्रेजेंट वैल्यू और फ्यूचर वैल्यू के कॉन्सेप्ट्स की पावर को समझते हैं। आने वाले विडोज़ में हम सिंपल इंटरेस्ट और कंपाउंड इंटरेस्ट के बारे में समझेंगे और साथ ही जानेंगे की ये इंवेस्टमेंट्स में कैसे काम आते हैं। Share this Video: https://youtu.be/Pazp1b2LhAQ Subscribe To Our Channel and Get More Property and Real Estate Tips: https://www.youtube.com/channel/UCsNxHPbaCWL1tKw2hxGQD6g If you want to become an Expert Real Estate investor, please visit our website https://assetyogi.com now and Subscribe to our newsletter. In this video, we have explained: What is time value of money? How to calculate the time value of money? What is the concept of time value of money? How important is time value of money in financial management? What is the best method for the time value of money calculation? How to calculate the present value and future value of an investment? How you can calculate the present value of annuity and future value of annuity? What is the formula for calculating the present value and future value? How simple interest and compound interest calculation works with investments? How to know time value of money for long-term investments? How to calculate the value of future investments? How calculating the time value of money works for stock market investments? How to calculate the future value using compound interest formula? Make sure to Like and Share this video. Other Great Resources AssetYogi – http://assetyogi.com/ Follow Us: Linkedin - http://www.linkedin.com/company/asset-yogi Pinterest - http://pinterest.com/assetyogi/ Facebook – https://www.facebook.com/assetyogi Instagram - http://instagram.com/assetyogi Twitter - http://twitter.com/assetyogi Google Plus – https://plus.google.com/+assetyogi-ay Hope you liked this video in Hindi on “Time Value of Money”.
Views: 20842 Asset Yogi
The Time Preference Theory of Interest and Its Critics | Jeffrey M. Herbener
 
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Recorded at the Mises Institute in Auburn, Alabama, on 22 July 2015.
Views: 2396 misesmedia
Quantity Theory of Money
 
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The quantity theory of money is an important tool for thinking about issues in macroeconomics. The equation for the quantity theory of money is: M x V = P x Y What do the variables represent? M is fairly straightforward – it’s the money supply in an economy. A typical dollar bill can go on a long journey during the course of a single year. It can be spent in exchange for goods and services numerous times. In the quantity theory of money, how many times an average dollar is exchanged is its velocity, or V. The price level of goods and services in an economy is represented by P. Finally, Y is all of the finished goods and services sold in an economy – aka real GDP. When you multiply P x Y, the result is nominal GDP. Actually, when you multiply M x V (the money supply times the velocity of money), you also get nominal GDP. M x V is equal to P x Y by definition – it’s an identity equation. You can think about the two sides of the equation like this: the left (M x V) covers the actions of consumers while the right (P x Y) covers the actions of producers. Since everything that is sold is bought by someone, these two sides will remain equal. Up next, we’ll use the quantity theory of money to discuss the causes of inflation. Subscribe for new videos every Tuesday! http://bit.ly/1Rib5V8 Macroeconomics Course: http://bit.ly/1R1PL5x Ask a question about the video: http://bit.ly/2jvcIbq Next video: http://bit.ly/2k0ZCny
The Time Preference Theory of Interest and Its Critics | Jeffrey M. Herbener
 
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Mises University 2017. Recorded at the Mises Institute in Auburn, Alabama, on 26 July 2017.
Views: 1638 misesmedia
Time Preference Theory of Interest and Its Enemies | Jeffrey M. Herbener
 
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Archived from the live Mises.tv broadcast, this lecture by Jeffrey Herbener was presented at the 2011 Mises University in Auburn, Alabama.
Views: 3729 misesmedia
Understanding the concept of Time Value of Money
 
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Here is a Complete Free Guide on Equity Linked Saving Scheme (ELSS Funds)- https://www.elearnmarkets.com/pages/elss Time is our greatest asset. Learn more about compounding and discounting cash flows here in short the time value of money- https://www.elearnmarkets.com/subject/basic-finance
Views: 1245 Elearnmarkets.com
Exponential vs. Hyperbolic Discounting
 
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http://www.sustainableengineeringsystems.com Both exponential and hyperbolic discount factor functions provide a feasible basis for modeling time preference. However, hyperbolic values the long-term more than exponential, and the near-term less.
Views: 15999 Thomas Seager
Time Preference, Democracy, Destruction of Society
 
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Understanding time preference and what it means is essential to being able to understand what enables societies to develop wealth, and what causes societies to swirl into inescapable poverty, crime, and self destruction. Below is the transcripts to the video: What Is Time Preference? Time preference is a measure of how well you can look into the future. It's a measure of how well you can plan. If you can't see very far into the future, you won't make very good decisions. It's a measure of how much more of something you'd have to have in the future, to forego having it right now. If you'd take $150 a year from now instead of $100 today, then your time preference is 50%. The aggregate time preference of society is the free market interest rates. The more people plan for the future, the lower the interest rates will be. Studies have shown that primitive cultures have a very high time preference. For example, in one primitive society, they would rather spend an hour's worth of work digging up roots, rather than planting corn. They know how to do both, it's that planting corn requires them to wait to see the results of their effort. When digging for roots, they get 500 calories worth of food for every hour they spend. But if they were to plant corn, they'd eventually get 2000 calories for every hour they spend. So you can see, the lower your time preference, the more likely you'll plan for your future. And the lower the time preference of society is, the more wealth they'll create. The tribe that doesn't spend a lot of time planting corn won't develop very much wealth. The more any society plans for the future, the more wealth they'll create. One very interesting thing is that in societies where time preference continues to go down, over several generations, the society becomes a lot more civilized. Murder rates decrease, violent crime rates decrease, interest rates decrease, and society as a whole becomes more morally upright. Anything that increases time preference, on a wide scale, threatens the stability of society. People think about the future less and less, and make decisions based on the immediate consequences. Instead of taking the time to think about the result of killing you, for example, in terms of jury trial, prison sentences, the loss of ability to create wealth, somebody with a very high time preference will simply look around and make sure there's no police. They'll only be thinking five or ten minutes into the future. Anything that decreases time preference is good for society. Wealth goes up, and crimes go down. Anything that increases time preference is bad for society. Wealth goes down, and crime goes up. What decreases time preference? Free markets. Anything that trains people to be responsible for their actions. What increases time preference? Governments. Anything that convinces people that they aren't responsible for their actions. Governments, therefore, are the enemy of society.
Views: 406 George Hutton
Time preference
 
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Video Software we use: https://amzn.to/2KpdCQF Ad-free videos. You can support us by purchasing something through our Amazon-Url, thanks :) In economics, time preference is the relative valuation placed on a good at an earlier date compared with its valuation at a later date.There is no absolute distinction that separates "high" and "low" time preference, only comparisons with others either individually or in aggregate.Someone with a high time preference is focused substantially on his well-being in the present and the immediate future relative to the average person, while someone with low time preference places more emphasis than average on their well-being in the further future.Time preferences are captured mathematically in the discount function. This channel is dedicated to make Wikipedia, one of the biggest knowledge databases in the world available to people with limited vision. Article available under a Creative Commons license Image source in video
Views: 43 WikiWikiup
Episode 8: Time Discounting and Time Preference
 
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A nice introduction to how economists think about time, time discounting, and time preferences. You can read the full story at: https://www.blog.theteamw.com/2018/06/06/episode-8-time-discounting-and-time-preference/
Views: 74 The Team W
Keynesian Theory in 5 min
 
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An illustrated guide to Keynesian theory based on the work of John Maynard Keynes. Illustrations inspired by Olivier Ballou. Please make liberal use of the pause button. Please mute the annoying music (yes I'm recycling tracks from my previous videos, pathetic I know) The Business Cycle in 5 min: http://www.youtube.com/watch?v=GU-FXv2VlK0&feature=plcp The Federal Reserve in 5 min: http://www.youtube.com/watch?v=Hjm26fTH9K0
Views: 562954 libertyordeathTV
Money Supply Changes & Time Preference/Propensity to Consume
 
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Alex Merced discusses how the effect on prices from changes in the money supply also depends on people time preference/propensity to consume. Join the Discussion at HayekForums.com and AlexMercedForums.com
Views: 83 Alex Merced
Basic Economics Lesson 4 - Time Preference, Interest Rates, and Production
 
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Describing where interest rates come from and also how they act to coordinate economic activity
Views: 3688 Lucas Engelhardt
High Time Preference Behavior
 
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High Time Preference Behavior -- Watch live at http://www.twitch.tv/tttaub
Views: 141 mereporstu
Time Preference Theory of Interest | Jeffrey M. Herbener
 
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Lecture presented by Jeffrey M. Herbener at the Ludwig von Mises Institute's 2001 Mises University conference, the world's leading instructional program in the Austrian School of economics. Since 1985, it has been the essential training ground for economists who are looking beyond the mainstream. http://mises.org Jeffrey M. Herbener is an American economist of the Austrian School. Besides serving as an economics instructor at Pittsburg State University, Herbener has also taught at Washington and Jefferson College and currently holds the position of professor of economics at Grove City College in Pennsylvania. Herbener is a senior fellow of the Ludwig von Mises Institute in Auburn, Alabama and is associate editor of their Quarterly Journal of Austrian Economics. Related links: http://mises.org/fellow.aspx?Id=14 http://mises.org/literature.aspx?action=author&Id=206 Links to selected online books and essays on Austrian Economics: What is Austrian Economics? http://mises.org/etexts/austrian.asp Human Action: A Treatise on Economics by Ludwig von Mises http://mises.org/resources/3250 Audio book version: http://www.youtube.com/play_list?p=ED883527337E557B Theory and History: An Interpretation of Social and Economic Evolution by Ludwig von Mises http://mises.org/th.asp Audio book version: http://www.youtube.com/vplay_list?p=E52EEC7BFA3115F0 Economic Calculation in the Socialist Commonwealth by Ludwig von Mises http://mises.org/econcalc.asp Audio book version: http://www.youtube.com/vplay_list?p=FADF1FD6F2C0B8EF Historical Setting of the Austrian School of Economics by Ludwig von Mises http://mises.org/resources/1001 The Ultimate Foundation of Economic Science by Ludwig von Mises http://mises.org/books/ufofes/default.aspx Man, Economy, and State by Murray N. Rothbard http://mises.org/resources/1082 Audio book version: http://www.youtube.com/play_list?p=53CE2A1EA5C720BE Economic Thought Before Adam Smith: An Austrian Perspective on the History of Economic Thought, Volume I by Murray N. Rothbard http://mises.org/resources/3985 Audio book version: http://www.youtube.com/play_list?p=C60128B8E98929D7 Classical Economics: An Austrian Perspective on the History of Economic Thought, Volume II by Murray N. Rothbard http://mises.org/resources/3986 Audio book version: http://www.youtube.com/play_list?p=08BADEE86CA3F02F Mises and Austrian Economics by Murray N. Rothbard http://mises.org/resources/2699 The Austrian School of Economics: A History of Its Ideas, Ambassadors, and Institutions http://mises.org/resources/6136 Audio book version: http://www.youtube.com/playlist?p=PLF6C1466B1FDFB954 Principles of Economics by Carl Menger http://mises.org/etexts/menger/principles.asp The Failure of the "New Economics" by Henry Hazlitt http://mises.org/resources/3655 Audio book version: http://www.youtube.com/playlist?p=PLBDAFAE937C2E3E21 Individualism and Economic Order by F.A. Hayek http://mises.org/resources/4015 Monetary Theory and the Trade Cycle by F.A. Hayek http://mises.org/resources/680 The Pure Theory of Capital by F.A. Hayek http://mises.org/resources/3032 Monetary Nationalism and International Stability by F.A. Hayek http://mises.org/resources/570 Philosophical and Ethical Implications of Austrian Economics by Israel M. Kirzner http://mises.org/resources/24 Why Austrian Economics Matters by Llewellyn H. Rockwell, Jr. http://mises.org/resources/1200 Austrian Economics as Extraordinary Science http://mises.org/resources/12 Economic Science and the Austrian Method by Hans-Hermann Hoppe http://mises.org/resources/4950 The Austrian Theory of the Trade Cycle http://mises.org/pdf/austtrad.pdf The Place of Human Action in the Development of Modern Economic Thought by Joseph T. Salerno http://mises.org/journals/qjae/pdf/qjae2_1_3.pdf Austrian Macroeconomics: A Diagrammatical Exposition by Roger W. Garrison http://mises.org/resources/5057 The Austrian School's Critique of Marxism https://mises.org/daily/5114 Methodology of the Austrian School Economists http://mises.org/resources/155 Control or Economic Law by Eugen von Böhm-Bawerk http://mises.org/resources/5188 The Positive Theory of Capital by Eugen von Böhm-Bawerk http://mises.org/resources/3326 Mises and Austrian Economics: A Personal View by Ron Paul http://mises.org/resources/3221 DISCLAIMER: The Ludwig von Mises Institute has given permission under the Creative Commons license that this audio presentation can be publicly reposted as long as credit is given to the Mises Institute and other guidelines are followed. More info at: http://creativecommons.org/licenses/by/3.0/us/ This YouTube channel is in no way endorsed by or affiliated with the Ludwig von Mises Institute, any of its lecturers or staff members.
Views: 497 LibertyInOurTime
8. Theory of Debt, Its Proper Role, Leverage Cycles
 
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Financial Markets (2011) (ECON 252) Professor Shiller devotes the beginning of the lecture to exploring the theoretical determinants of the level of interest rates. Eugen von Boehm-Bawerk names technical progress, roundaboutness, and time preference as the crucial factors. Professor Shiller complements von Boehm-Bawerk's analysis with two of Irving Fisher's modeling approaches, the view of the interest rate as the equilibrium variable in the savings market and the perspective of simple Robinson Crusoe economies on the determination of interest rates. Subsequently, Professor Shiller focuses his attention on present discounted values and derives the price for discount bonds, consols, annuities, as well as corporate bonds. His treatment of the term structure of interest rates leads him to forward rates and the expectations theory of the term structure of interest rates. At the end of the lecture, he offers insights on usurious loan practices, from ancient times until today, and describes the improvements in consumer financial protection that have been made after the financial crisis of the 2000s. 00:00 - Chapter 1. Introduction 01:24 - Chapter 2. Theories for the Determinants of Interest Rates 28:11 - Chapter 3. Present Discounted Values, Compounding, and Pricing Bond Contracts 47:50 - Chapter 4. Forward Rates and the Term Structure of Interest Rates 01:03:29 - Chapter 5. The Ancient History of Interest Rates and Usurious Loans 01:11:08 - Chapter 6. Elizabeth Warren and the Consumer Financial Protection Bureau Complete course materials are available at the Yale Online website: online.yale.edu This course was recorded in Spring 2011.
Views: 101608 YaleCourses
Time Preference in Millennials
 
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As they relate to drug and alcohol usage. Source: Millennials Coming of Age (2017). Goldman Sachs Investment Research
Views: 25 Mary Ing
Introduction to Consumer Choice
 
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Everyday, you make tons of decisions about consumption. Your choices about what and how much of a good to buy are influenced by the laws of supply and demand. These choices are nearly endless. For example, at Starbucks, each drink is highly customizable. In fact, they offer over 80,000 combinations! When you buy a good or make a decision about how to use your time, you’re getting some sort of value, like a sense of happiness or satisfaction, out of it – economists call this “utility.” The increase in that value from buying an additional unit of a good or service is its marginal utility. When you make these decisions, you’re thinking at the margin, even if you don’t realize it. Think about how wonderful a shot of espresso, or your beverage of choice, is first thing in the morning. You probably derive quite a bit of utility! But how about a second, third, or even fourth shot of espresso? With each extra shot, you probably get a little less utility. At some point, the cost will outweigh the marginal utility. When you add up the satisfaction you get out of all of the shots of espresso, that is your total utility. Since each additional shot of espresso has a little less utility, economists refer to this concept as diminishing marginal utility. This is true for all goods and activities, but the amount of utility and marginal utility depends on the individual. For example, let’s say that Starbucks drops the price of shot of espresso. This can change the quantity demanded on aggregate because for some people, the drop in price will make the marginal utility they derive from an extra shot now worth the cost. But perhaps that’s not true for you and your consumption will not change. Are you starting to see how you instinctively think and act at the margin in your daily life? Up next, we’ll explore other factors beyond price that affect your habits as a consumer, such as preferences and income. Subscribe for new videos every Tuesday! http://bit.ly/1Rib5V8 Microeconomics Course: http://bit.ly/20VablY Ask a question about the video: http://bit.ly/2qr83Hg Next video: http://bit.ly/2qBZauA
The Time Preference Theory of Interest and Its Critics | Jeffrey M. Herbener
 
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Recorded at the Mises Institute in Auburn, Alabama, on 27 July 2016.
Views: 2027 misesmedia
What is LIQUIDITY PREFERENCE? What does LIQUIDITY PREFERENCE mean? LIQUIDITY PREFERENCE meaning
 
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What is LIQUIDITY PREFERENCE? What does LIQUIDITY PREFERENCE mean? LIQUIDITY PREFERENCE meaning - LIQUIDITY PREFERENCE definition - LIQUIDITY PREFERENCE explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. In macroeconomic theory, liquidity preference refers to the demand for money, considered as liquidity. The concept was first developed by John Maynard Keynes in his book The General Theory of Employment, Interest and Money (1936) to explain determination of the interest rate by the supply and demand for money. The demand for money as an asset was theorized to depend on the interest foregone by not holding bonds (here, the term "bonds" can be understood to also represent stocks and other less liquid assets in general, as well as government bonds). Interest rates, he argues, cannot be a reward for saving as such because, if a person hoards his savings in cash, keeping it under his mattress say, he will receive no interest, although he has nevertheless refrained from consuming all his current income. Instead of a reward for saving, interest, in the Keynesian analysis, is a reward for parting with liquidity. According to Keynes, money is the most liquid asset. Liquidity is an attribute to an asset. The more quickly an asset is converted into money the more liquid it is said to be. According to Keynes, demand for liquidity is determined by three motives: 1. the transactions motive: people prefer to have liquidity to assure basic transactions, for their income is not constantly available. The amount of liquidity demanded is determined by the level of income: the higher the income, the more money demanded for carrying out increased spending. 2. the precautionary motive: people prefer to have liquidity in the case of social unexpected problems that need unusual costs. The amount of money demanded for this purpose increases as income increases. 3. speculative motive: people retain liquidity to speculate that bond prices will fall. When the interest rate decreases people demand more money to hold until the interest rate increases, which would drive down the price of an existing bond to keep its yield in line with the interest rate. Thus, the lower the interest rate, the more money demanded (and vice versa). The liquidity-preference relation can be represented graphically as a schedule of the money demanded at each different interest rate. The supply of money together with the liquidity-preference curve in theory interact to determine the interest rate at which the quantity of money demanded equals the quantity of money supplied (see IS/LM model). A major rival to the liquidity preference theory of interest is the time preference theory, which liquidity preference was actually a response to. Pioneering work in time preference theory was done by Irving Fisher. In Man, Economy, and State (1962), Murray Rothbard argues that the liquidity preference theory of interest suffers from a fallacy of mutual determination. Keynes alleges that the rate of interest is determined by liquidity preference. In practice, however, Keynes treats the rate of interest as determining liquidity preference. Rothbard states "The Keynesians therefore treat the rate of interest, not as they believe they do — as determined by liquidity preference — but rather as some sort of mysterious and unexplained force imposing itself on the other elements of the economic system." Criticism emanates also from Post-Keynesian economists, such as circuitist Alain Parguez, professor of economics, University of Besançon, who "reject the keynesian liquidity preference theory ... but only because it lacks sensible empirical foundations in a true monetary economy."
Views: 11682 The Audiopedia
Only the Austrians Understand Interest Rates
 
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Presented by Robert P. Murphy at "Austrian Economics and the Financial Markets," the Mises Circle in Manhattan on 22 May 2010 in New York, New York. Includes an introduction by Mises Institute president Douglas E. French.
Views: 19564 misesmedia
What is High and Low Time Preference? and How Do They Relate to Social and Political Issues
 
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My book "No Chance: A Post-Modern Odyessy" is now available for pre-order please use the link below USA https://amzn.to/2yXHhMY Canada https://amzn.to/2R20aWr UK https://amzn.to/2AmXQE8 Australia https://amzn.to/2An3dmJ Germany https://amzn.to/2R6Tkiv France https://amzn.to/2JbGsF9 Brazil https://amzn.to/2CwqBzI Discord Server https://discord.gg/S8fRMA8 My book "No Chance: A Post-Modern Odyessy" is now avalible for pre-order please use the link below https://amzn.to/2R20aWr Discord Server https://discord.gg/S8fRMA8 My Discord Server https://discord.gg/5csyQWB If you want to interact with me or my viewers the link to my discord is https://discord.gg/YP5Ryxg Join my discord server to hangout with my viewers and me https://discord.gg/qyWJpSS You Can Contact Me on Facebook https://www.facebook.com/ArgentTemplar/ If You Enjoy My Content and Want to Support Me You Can Pledge to My Patreon Here https://www.patreon.com/argenttemplar Or For One Off Donations/ Tips Here https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=ZZYECTFE9GYWW I Have a Bitchute Which is Used To Host My Evangelion Explained Series https://www.bitchute.com/channel/argent/ You Can Also Watch My Streams on Twitch Please Follow https://www.twitch.tv/argent7771 You Can Contact Me on Facebook https://www.facebook.com/ArgentTemplar/ If You Enjoy My Content and Want to Support Me You Can Pledge to My Patreon Here https://www.patreon.com/argenttemplar Or For One Off Donations/ Tips Here https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=ZZYECTFE9GYWW I have a Bitchute But There Isn't Much There Yet https://www.bitchute.com/channel/argent/ My Main Online Presence is My YouTube Channel Please Subscribe https://www.youtube.com/user/LibertyandJustice771 I created this video with the YouTube Video Editor (http://www.youtube.com/editor) My Main Online Pressence is My YouTube Channel Please Subscribe https://www.youtube.com/user/LibertyandJustice771 You Can Contact Me on Facebook https://www.facebook.com/ArgentTemplar/ Or Contact Me on Gab https://gab.ai/ArgentTemplar If You Enjoy My Content and Want to Support Me You Can Pledge to My Patreon Here https://www.patreon.com/argenttemplar Or For One Off Donations/ Tips Here https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=ZZYECTFE9GYWW I have a Bitchute But There Isn't Much There Yet https://www.bitchute.com/channel/argent/ Please checkout my book "No Chance: A Post-Modern Odyessy" USA https://amzn.to/2yXHhMY Canada https://amzn.to/2R20aWr UK https://amzn.to/2AmXQE8 Australia https://amzn.to/2An3dmJ Germany https://amzn.to/2R6Tkiv France https://amzn.to/2JbGsF9 Brazil https://amzn.to/2CwqBzI Discord Server https://discord.gg/S8fRMA8 My Main Online Presence is My YouTube Channel Please Subscribe https://www.youtube.com/user/LibertyandJustice771 You Can Contact Me on Facebook https://www.facebook.com/ArgentTemplar/ If You Enjoy My Content and Want to Support Me You Can Pledge to My Patreon Here https://www.patreon.com/argenttemplar Or For One Off Donations/ Tips Here https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=ZZYECTFE9GYWW I have a Bitchute for my Evangelion Commentary Videos https://www.bitchute.com/channel/argent/
Views: 873 Argent
Authors Forum: The Pure Time-Preference Theory of Interest | Jeffrey Herbener
 
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Presented at the 2012 Austrian Scholars Conference. Recorded 9 March 2012 at the Ludwig von Mises Institute in Auburn, Alabama.
Views: 2640 misesmedia
Keynesian economics | Aggregate demand and aggregate supply | Macroeconomics | Khan Academy
 
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Contrasting Keynesian and Classical Thinking Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/macroeconomics/aggregate-supply-demand-topic/keynesian-thinking/v/risks-of-keynesian-thinking?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/macroeconomics/aggregate-supply-demand-topic/monetary-fiscal-policy/v/tax-lever-of-fiscal-policy?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics Macroeconomics on Khan Academy: Topics covered in a traditional college level introductory macroeconomics course About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy's Macroeconomics channel: https://www.youtube.com/channel/UCBytY7pnP0GAHB3C8vDeXvg Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
Views: 693316 Khan Academy
TIME VALUE OF MONEY
 
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When we talk about money you receive or pay, it’s not just about the amount. There are other factors such as time and the risk that comes with it Time preference for money is usually expressed as an interest rate, which combine both risk- free rate (which compensates for the time) and risk premium (which covers the risk) This is an introduction to what will be a series of financial management lessons on time value of money and many more. Get more lessons by clicking on the link below http://eepurl.com/cKbnjD Follows us on TWITTER: www.twitter.com/zeritenetwork Facebook: www.facebook.com/zeriteventures Website: www.zeriteventures.com
Views: 81 Zerite Network
Intro to Economics #4 - Time Preference and Interest
 
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Alex Merced does introductory video series on Economics http://www.alexmerced.com http://www.libertyisnow.com
Views: 371 Alex Merced
Negative Interest - The Nemesis of Time Preference Theory?
 
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Time preference is a theorem that lies at the core of Austrian interest theory. However, ever since the phenomenon of negative interest rates came about, Standard Austrian Theory (SAT) faces a severe problem: according to Mises time preference could only be positive. In this presentation, given at the IX Conference of the Instituto Juan De Mariana, I investigate whether or not it is true that negative interest can be explained by the three other factors both Mises (2) and Rothbard (1) mention. My conclusion is that this is impossible, and that the problem of SAT, not being able to explain negative interest rates, is valid.
Views: 365 Brecht Arnaert
Time preference Meaning
 
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Video shows what time preference means. A measure of the preference a consumer has for enjoyment at a time in the future that is either more immediate or more remote.. Time preference Meaning. How to pronounce, definition audio dictionary. How to say time preference. Powered by MaryTTS, Wiktionary
Views: 105 ADictionary
The Pure Time Preference Theory of Interest and Its Enemies | Jeffrey M. Herbener
 
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Lecture presented by Jeffrey M. Herbener at the Ludwig von Mises Institute's annual Austrian Scholars Conference (Session on Economic Theory II) held at the Mises Institute in Auburn, Alabama; 10-12 March 2011. http://mises.org DISCLAIMER: The Ludwig von Mises Institute has given permission under the Creative Commons license that this audio presentation can be publicly reposted as long as credit is given to the Mises Institute and other guidelines are followed. More info at: http://creativecommons.org/licenses/by/3.0/us/ This YouTube channel is in no way endorsed by or affiliated with the Ludwig von Mises Institute, any of its lecturers or staff members.
Views: 301 LibertyInOurTime
Lil Wayne - John (Explicit) ft. Rick Ross
 
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Music video by Lil Wayne performing John. (C) 2011 Cash Money Records Inc.
Views: 106468946 LilWayneVEVO
Time Value of Money in Hindi
 
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The time value of money (TVM) is the idea that money available at the present time is worth more than the same amount in the future due to its potential earning capacity or in other words we can say that money available at the present is worth more than the same amount in the future due to financial factors like inflation. Case I: Savings Bank Account P = INR 1,00,000 R = 3.5% yearly T = 1 Year Amount after 1 year = PRT/100 = INR 1,03,500 means interest earned = INR 3500 only in 1 year. Case II: Fixed Deposit (FD) in Bank Account P = INR 1,00,000 R = 7.5% yearly T = 1 Year Amount after 1 year = PRT/100 = INR 1,07,500 means interest earned = INR 7500 only in 1 year. Case III: Invested in business/micro lending P = INR 1,00,000 R = 15.0% yearly T = 1 Year Amount after 1 year = PRT/100 = INR 1,15,000 means interest earned = INR 15000 in 1 year. If inflation is @ 5% to 8% then, imagine ROI on bank FD and Savings Bank Account.
Views: 2910 ABHISHEKSINGH.IN
Some Applications of the Time-Preference Theory | by Ludwig von Mises
 
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Audio version of the Mises Daily article for April 9, 2010. Written by Ludwig von Mises and read by Jeff Riggenbach. http://mises.org Link to the text version of this audio presentation: http://mises.org/daily/4212 DISCLAIMER: The Ludwig von Mises Institute has given permission under the Creative Commons license that this audio presentation can be publicly reposted as long as credit is given to the Mises Institute and other guidelines are followed. More info at: http://creativecommons.org/licenses/by/3.0/us/ This YouTube channel is in no way endorsed by or affiliated with the Ludwig von Mises Institute, any of its lecturers or staff members. * * * * * Ludwig von Mises was the acknowledged leader of the Austrian School of economic thought, a prodigious originator in economic theory, and a prolific author. Mises's writings and lectures encompassed economic theory, history, epistemology, government, and political philosophy. His contributions to economic theory include important clarifications on the quantity theory of money, the theory of the trade cycle, the integration of monetary theory with economic theory in general, and a demonstration that socialism must fail because it cannot solve the problem of economic calculation. Mises was the first scholar to recognize that economics is part of a larger science in human action, a science that Mises called "praxeology." Links to selected online books and essays by Ludwig von Mises: Human Action: A Treatise on Economics http://mises.org/resources/3250 Audio book version: http://www.youtube.com/view_play_list?p=ED883527337E557B Economic Calculation In The Socialist Commonwealth http://mises.org/resources/448/ Audio book version: http://www.youtube.com/view_play_list?p=FADF1FD6F2C0B8EF Theory and History: An Interpretation of Social and Economic Evolution http://mises.org/th.asp Audio book version: http://www.youtube.com/view_play_list?p=E52EEC7BFA3115F0 The Anti-Capitalistic Mentality http://mises.org/resources/1164/ Marxism Unmasked: From Delusion to Destruction http://mises.org/resources/4035/ Interventionism: An Economic Analysis http://mises.org/resources/1217/ Omnipotent Government: The Rise of Total State and Total War http://mises.org/resources/5829/ Socialism: An Economic and Sociological Analysis http://mises.org/resources/2736 Economic Policy: Thoughts for Today and Tomorrow http://mises.org/etexts/ecopol.asp The Causes of the Economic Crisis, and Other Essays Before and After the Great Depression http://mises.org/resources/3361 Epistemological Relativism in the Sciences of Human Action http://mises.org/resources/117 Bureaucracy http://mises.org/resources/875 Economic Freedom and Interventionism http://mises.org/efandi.asp Capitalism, Happiness, and Beauty http://mises.org/freemarket_detail.aspx?control=502 Historical Setting of the Austrian School of Economics http://mises.org/hsofase.asp Liberty and Property http://mises.org/libprop.asp Middle-of-the-Road Policy Leads to Socialism http://mises.org/midroad.asp The Free Market and Its Enemies: Pseudo-Science, Socialism, and Inflation http://mises.org/resources/4034 Liberalism: In the Classical Tradition http://mises.org/liberal.asp Nation, State, and Economy http://mises.org/nsande.asp The Ultimate Foundation of Economic Science http://mises.org/books/ufofes/ Links to more online resources by Ludwig von Mises: http://mises.org/literature.aspx?action=author&Id=280 http://mises.org/daily/author/280 Related links: Biography of Ludwig von Mises (1881-1973) by Murray N. Rothbard http://mises.org/about/3248 Mises: The Last Knight of Liberalism by Jörg Guido Hülsmann http://mises.org/resources/3295 Audio book version: http://www.youtube.com/view_play_list?p=B20838592EA05A7B My Years with Ludwig von Mises by Margit von Mises http://mises.org/resources/3199 Audio book version: http://www.youtube.com/view_play_list?p=780388FF8EB8E952 The Life, Times, and Work of Ludwig von Mises: A Lecture Series by Jörg Guido Hülsmann http://www.youtube.com/view_play_list?p=C5B1932280759DCE Mises: An Annotated Bibliography by Bettina Bien Greaves http://mises.org/resources/4064 What is Austrian Economics? http://mises.org/etexts/austrian.asp Ludwig von Mises on Money and Inflation http://mises.org/resources/5230 The Philosophical Contributions of Ludwig von Mises http://mises.org/journals/rae/pdf/RAE7_1_4.pdf Ludwig von Mises and the Austrian School of Economics http://mises.org/journals/rae/pdf/RAE5_2_2.pdf The Cultural Thought of Ludwig von Mises http://mises.org/journals/jls/10_1/10_1_3.pdf The Austrian School of Economics: A History of Its Ideas, Ambassadors, and Institutions by Eugen-Maria Schulak and Herbert Unterköfler http://mises.org/resources/6136 Audio book version: http://www.youtube.com/playlist?p=PLF6C1466B1FDFB954
Views: 136 LibertyInOurTime
The 1 Bitcoin Show- The art of holding, Bcash thoughts, Ripple? Low time preference
 
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Santiago, Chile- Value your wealth in Bitcoin. If you still have the same amount of BTC you has last week then you have not lost any money, Bcash SV is rapidly becoming irrelevant. Ripple? The art of Holding! Fake Trezors are out there, stay calm. BTC over gold. USA people- Safe thanksgiving travels! I am leaving Santiago in a few hours and the show will be originating from Baltimore on Wednesday. Andreas Antonopoulos- https://twitter.com/aantonop/status/1064597323785953281 Gold inflation- https://twitter.com/Xentagz/status/1062829906088943616 Fake Trezor- https://blog.trezor.io/psa-non-genuine-trezor-devices-979b64e359a7 Newsweek- https://twitter.com/ChrisBlec/status/1064630717982916608 Simon Dixon Ripple- https://twitter.com/SimonDixonTwitt/status/1063704341087961089 Hold attitude- https://twitter.com/TuurDemeester/status/939512889022574592 Central Bank Digital Currencies? https://www.project-syndicate.org/commentary/central-banks-take-over-digital-payments-no-cryptocurrencies-by-nouriel-roubini-2018-11 Tuur- https://twitter.com/TuurDemeester/status/1064532552638230529 Value your wealth in Satoshis- https://twitter.com/matt_odell/status/1064581887971061760 Kraken BSV wanring- https://blog.kraken.com/post/1928/kraken-credits-clients-with-bitcoin-sv-bsv-and-launches-bsv-trading/ BSV- https://twitter.com/joseangel357/status/1064620550478274561 Ripple freak- https://twitter.com/RailroadedMI/status/1064598012725469184 Low time preference people- https://twitter.com/jimmysong/status/1064235923859226624 TechBalt.com has every This Week In Bitcoin show! Monday's show- https://www.youtube.com/watch?v=Vfeb7RvMI2o Sunday's show- https://www.youtube.com/watch?v=QwE_0X8sx9Y Saturday's show- https://www.youtube.com/watch?v=55tCY-gyeJU Friday's show- https://www.youtube.com/watch?v=B5XcgfCFJk8 Thursday's show- https://www.youtube.com/watch?v=jN5uZXcwLlE Wednesday's show- https://www.youtube.com/watch?v=1cCiAoaUWr8 #Bitcoin people you need to know- https://www.youtube.com/watch?v=YuWlWnJqHn4 Email the Disrupt Meister intern- [email protected] & tell us why you want to be an intern! -------------------------------------------------------------------------------------- Get anonymous VPN and PROXY at Torguard! https://torguard.net/aff.php?aff=3899 CryptoHWwallet affiliate link- https://www.cryptohwwallet.com?acc=a87ff679a2f3e71d9181a67b7542122c Shirts- http://www.cryptoverge.com/category/shirts/bitcoin/ http://www.bitcointothemoon.com/merchandise.html https://hodl.threadless.com/ 10% MEISTER discount code- https://www.cryptoidshop.com UPVOTE THIS- https://steemit.com/bitcoin/@bitcoinmeister/live-at-8pm-est-the-1-bitcoin-show-zack-voell-btc-has-no-hash-war-fear-shark-pool-bstash-swiss-etf Buy your Bitcoin Trezor storage device here: https://shop.trezor.io/?a=c81d29b7bbf1 Buy Bitcoin at Coinbase here: https://www.coinbase.com/join/528aa4ec443594782100003a CryptoHWwallet affiliate link- https://www.cryptohwwallet.com?acc=a87ff679a2f3e71d9181a67b7542122c Adam's Twitter- https://twitter.com/TechBalt Adam's Minds- https://www.minds.com/BitcoinMeister Support the cause if you like what I have to say: BTC: 3HZngc6ASzt3deDm582u8xJRFAwmz7YTwG ETC: 0xb28CD007E0495b34BA6030859030322b7bE8422B Monero: 49broKTMLfFBZtzFFWptyqbuTF4rm7Pp6HZj4ReRuKQf3Z6uFjCbWgs6n4ymX5aYTsczoELGd3vYSD4XUQrjvy3S5qTsN3s LTC: LQm55H4oUCoVPiBd25A4v2jHXLtC9oo9Jg ETH: 0x0feb7bCd89C4Ea0c14FC7D94b9afBDE993034AD5 DASH: Xjcpo8Lh6NKQoV3F12pGpXUiK4XRoQyudN BGold: AN6p1tD2KwRKvhiinprN9wCqGe4KUqPsY5 My latest Steemit post: https://steemit.com/bitcoin/@bitcoinmeister/live-at-8pm-est-the-1-bitcoin-show-zack-voell-btc-has-no-hash-war-fear-shark-pool-bstash-swiss-etf My Steemit page: https://steemit.com/@bitcoinmeister https://www.youtube.com/c/BitcoinMeister http://disruptmeister.com/ Value of every cryptocurrency- https://www.coinmarketwatch.com Watch more of my Bitcoin videos here: https://www.youtube.com/playlist?list=PLLgyAakZPtCVQKl6naVHUfOiICFG8BYMp Adam Meister is available for an hour long Bitcoin/cryptocurrency consultation where he can walk you through the Trezor installation process and help you move your Bitcoins to the Trezor. He will answer all your questions in that hour. Trezor is just one Bitcoin topic that Adam can help you with, you can ask his advice on anything cryptocurrency related. From marketing and promotion to Altcoins to storage and the buy and hold philosophy. Adam's hourly rate is 0.11 Bitcoin. Feel free to email: Adam AT TrezorHelp DOT com to set up a Skype/phone consultation or to arrange an in person appearance or speaking engagement. Adam is available to speak at conferences around the world. Follow Adam on Twitter here: https://twitter.com/TechBalt Buy your Bitcoin Trezor storage device here: https://shop.trezor.io/?a=c81d29b7bbf1
Views: 1566 BitcoinMeister
David Howden: Time Preference And Interest Rate Determination
 
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Dave Howden Lecturing at Rothbard University 2014 Mises.ca Toronto, Ontario, Canada.
Views: 852 MisesCanada
What is DISCOUNTED CASH FLOW? What does DISCOUNTED CASH FLOW mean? DISCOUNTED CASH FLOW meaning
 
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What is DISCOUNTED CASH FLOW? What does DISCOUNTED CASH FLOW mean? DISCOUNTED CASH FLOW meaning - DISCOUNTED CASH FLOW definition - DISCOUNTED CASH FLOW explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. In finance, discounted cash flow (DCF) analysis is a method of valuing a project, company, or asset using the concepts of the time value of money. All future cash flows are estimated and discounted by using cost of capital to give their present values (PVs). The sum of all future cash flows, both incoming and outgoing, is the net present value (NPV), which is taken as the value or price of the cash flows in question. Using DCF analysis to compute the NPV takes as input cash flows and a discount rate and gives as output a present value; the opposite process—takes cash flows and a price (present value) as inputs, and provides as output the discount rate—this is used in bond markets to obtain the yield. Discounted cash flow analysis is widely used in investment finance, real estate development, corporate financial management and patent valuation. It was used in industry as early as the 1700s or 1800s, widely discussed in financial economics in the 1960s, and became widely used in U.S. Courts in the 1980s and 1990s. The most widely used method of discounting is exponential discounting, which values future cash flows as "how much money would have to be invested currently, at a given rate of return, to yield the cash flow in future." Other methods of discounting, such as hyperbolic discounting, are studied in academia and said to reflect intuitive decision-making, but are not generally used in industry. The discount rate used is generally the appropriate weighted average cost of capital (WACC), that reflects the risk of the cashflows. This WACC can be found using Perry's calculation model which was developed in 1996. The discount rate reflects two things: 1. Time value of money (risk-free rate) – according to the theory of time preference, investors would rather have cash immediately than having to wait and must therefore be compensated by paying for the delay 2. Risk premium – reflects the extra return investors demand because they want to be compensated for the risk that the cash flow might not materialize after all Discounted cash flow calculations have been used in some form since money was first lent at interest in ancient times. Studies of ancient Egyptian and Babylonian mathematics suggest that they used techniques similar to discounting of the future cash flows. This method of asset valuation differentiated between the accounting book value, which is based on the amount paid for the asset. Following the stock market crash of 1929, discounted cash flow analysis gained popularity as a valuation method for stocks. Irving Fisher in his 1930 book The Theory of Interest and John Burr Williams's 1938 text The Theory of Investment Value first formally expressed the DCF method in modern economic terms. To show how discounted cash flow analysis is performed, consider the following simplified example. John Doe buys a house for $100,000. Three years later, he expects to be able to sell this house for $150,000. Simple subtraction suggests that the value of his profit on such a transaction would be $150,000 - $100,000 = $50,000, or 50%. If that $50,000 is amortized over the three years, his implied annual return (known as the internal rate of return) would be about 14.5%. Looking at those figures, he might be justified in thinking that the purchase looked like a good idea. 1.1453 x 100000 = 150000 approximately. However, since three years have passed between the purchase and the sale, any cash flow from the sale must be discounted accordingly. At the time John Doe buys the house, the 3-year US Treasury Note rate is 5% per annum. Treasury Notes are generally considered to be inherently less risky than real estate, since the value of the Note is guaranteed by the US Government and there is a liquid market for the purchase and sale of T-Notes. If he hadn't put his money into buying the house, he could have invested it in the relatively safe T-Notes instead. This 5% per annum can therefore be regarded as the risk-free interest rate for the relevant period (3 years).
Views: 3571 The Audiopedia
Why Bitcoin is the Hardest Money We Ever Had, Saifedean Ammous, "The Bitcoin Standard"
 
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A podcast by Manuel Stagars: http://www.theblockchainandus.com Saifedean Ammous speaks about his book "The Bitcoin Standard", why thriving economies need hard money, the concept of time preference, comparisons between bitcoin and gold, what bitcoin could do for the world economy, how Austrian economics and bitcoin go together, why it took years for him to understand Bitcoin, why he's a self-chosen outcast in academia, why bitcoin might not replace gold after all, and why Bitcoin is neither good nor bad but simply a technology. Saifedean is an academic economist living and teaching in Beirut as an assistant professor of economics at the Lebanese American University. He was previously a member of the Center for Capitalism and Society at Columbia University and holds a PhD in Sustainable Development from Columbia University in New York. Saif's main interest is Austrian economics and Bitcoin and he wrote the book "The Bitcoin Standard", published by Wiley. Saifedean Ammous: https://www.saifedean.com, https://thesaifhouse.wordpress.com, https://www.linkedin.com/in/saifedean, https://twitter.com/saifedean  Saif's book The Bitcoin Standard: http://www.amzn.to/2L95bJW  Resources Saif recommends in the interview to learn more about Bitcoin: Bitcoin white paper: https://bitcoin.org/bitcoin.pdf  Bitcoin wiki: https://en.bitcoin.it/wiki/Main_Page  Satoshi Nakamoto institute: https://www.nakamotoinstitute.org  The Blockchain and Us newsletter Several new interviews go live on this podcast each week. Get an email from me every two weeks with a very short summary of new podcast episodes, so you can immediately pick those interviews you'd like to listen to. You'll never receive any marketing and definitely no spam, and you can unsubscribe at any time. To stay up to date about what blockchain pioneers, innovators and entrepreneurs from all around the world think about the future of this space, sign up for the newsletter on https://www.theblockchainandus.com.
Views: 352 Manuel Stagars
Economics For Entrepreneurs: Time Preference
 
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Entrepreneurs have a special kind of opportunity cost, called time preference. High time preference means wanting everything now. Low time preference means a willingness to save and invest. That's what entrepreneurs do. They live in the future, imagining the future and finding ways to get there.
Time Preference and Interest | Jeffrey M. Herbener
 
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Lecture presented by Jeffrey M. Herbener at the Ludwig von Mises Institute's 2003 Mises University conference, the world's leading instructional program in the Austrian School of economics. Since 1985, it has been the essential training ground for economists who are looking beyond the mainstream. http://mises.org Jeffrey M. Herbener is an American economist of the Austrian School. Besides serving as an economics instructor at Pittsburg State University, Herbener has also taught at Washington and Jefferson College and currently holds the position of professor of economics at Grove City College in Pennsylvania. Herbener is a senior fellow of the Ludwig von Mises Institute in Auburn, Alabama and is associate editor of their Quarterly Journal of Austrian Economics. Related links: http://mises.org/fellow.aspx?Id=14 http://mises.org/literature.aspx?action=author&Id=206 Links to selected online books and essays on Austrian Economics: What is Austrian Economics? http://mises.org/etexts/austrian.asp Human Action: A Treatise on Economics by Ludwig von Mises http://mises.org/resources/3250 Audio book version: http://www.youtube.com/play_list?p=ED883527337E557B Theory and History: An Interpretation of Social and Economic Evolution by Ludwig von Mises http://mises.org/th.asp Audio book version: http://www.youtube.com/vplay_list?p=E52EEC7BFA3115F0 Economic Calculation in the Socialist Commonwealth by Ludwig von Mises http://mises.org/econcalc.asp Audio book version: http://www.youtube.com/vplay_list?p=FADF1FD6F2C0B8EF Historical Setting of the Austrian School of Economics by Ludwig von Mises http://mises.org/resources/1001 The Ultimate Foundation of Economic Science by Ludwig von Mises http://mises.org/books/ufofes/default.aspx Man, Economy, and State by Murray N. Rothbard http://mises.org/resources/1082 Audio book version: http://www.youtube.com/play_list?p=53CE2A1EA5C720BE Economic Thought Before Adam Smith: An Austrian Perspective on the History of Economic Thought, Volume I by Murray N. Rothbard http://mises.org/resources/3985 Audio book version: http://www.youtube.com/play_list?p=C60128B8E98929D7 Classical Economics: An Austrian Perspective on the History of Economic Thought, Volume II by Murray N. Rothbard http://mises.org/resources/3986 Audio book version: http://www.youtube.com/play_list?p=08BADEE86CA3F02F Mises and Austrian Economics by Murray N. Rothbard http://mises.org/resources/2699 The Austrian School of Economics: A History of Its Ideas, Ambassadors, and Institutions http://mises.org/resources/6136 Audio book version: http://www.youtube.com/playlist?p=PLF6C1466B1FDFB954 Principles of Economics by Carl Menger http://mises.org/etexts/menger/principles.asp The Failure of the "New Economics" by Henry Hazlitt http://mises.org/resources/3655 Audio book version: http://www.youtube.com/playlist?p=PLBDAFAE937C2E3E21 Individualism and Economic Order by F.A. Hayek http://mises.org/resources/4015 Monetary Theory and the Trade Cycle by F.A. Hayek http://mises.org/resources/680 The Pure Theory of Capital by F.A. Hayek http://mises.org/resources/3032 Monetary Nationalism and International Stability by F.A. Hayek http://mises.org/resources/570 Philosophical and Ethical Implications of Austrian Economics by Israel M. Kirzner http://mises.org/resources/24 Why Austrian Economics Matters by Llewellyn H. Rockwell, Jr. http://mises.org/resources/1200 Austrian Economics as Extraordinary Science http://mises.org/resources/12 Economic Science and the Austrian Method by Hans-Hermann Hoppe http://mises.org/resources/4950 The Austrian Theory of the Trade Cycle http://mises.org/pdf/austtrad.pdf The Place of Human Action in the Development of Modern Economic Thought by Joseph T. Salerno http://mises.org/journals/qjae/pdf/qjae2_1_3.pdf Austrian Macroeconomics: A Diagrammatical Exposition by Roger W. Garrison http://mises.org/resources/5057 The Austrian School's Critique of Marxism https://mises.org/daily/5114 Methodology of the Austrian School Economists http://mises.org/resources/155 Control or Economic Law by Eugen von Böhm-Bawerk http://mises.org/resources/5188 The Positive Theory of Capital by Eugen von Böhm-Bawerk http://mises.org/resources/3326 Mises and Austrian Economics: A Personal View by Ron Paul http://mises.org/resources/3221 DISCLAIMER: The Ludwig von Mises Institute has given permission under the Creative Commons license that this audio presentation can be publicly reposted as long as credit is given to the Mises Institute and other guidelines are followed. More info at: http://creativecommons.org/licenses/by/3.0/us/ This YouTube channel is in no way endorsed by or affiliated with the Ludwig von Mises Institute, any of its lecturers or staff members.
Views: 217 LibertyInOurTime
97% Owned - Economic Truth documentary - How is Money Created
 
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If you like 97% Owned support our future documentaries on Patreon: https://www.patreon.com/independentdocumentary Watch our newest documentary The Spider's Web: Britain's Second Empire: https://www.youtube.com/watch?v=np_ylvc8Zj8 97% owned present serious research and verifiable evidence on our economic and financial system. This is the first documentary to tackle this issue from a UK-perspective and explains the inner workings of Central Banks and the Money creation process. When money drives almost all activity on the planet, it's essential that we understand it. Yet simple questions often get overlooked, questions like; where does money come from? Who creates it? Who decides how it gets used? And what does this mean for the millions of ordinary people who suffer when the monetary, and financial system, breaks down? A film by Michael Oswald, Produced by Mike Horwath, featuring Ben Dyson of Positive Money, Josh Ryan-Collins of The New Economics Foundation, Ann Pettifor, the "HBOS Whistleblower" Paul Moore, Simon Dixon of Bank to the Future and Nick Dearden from the Jubliee Debt Campaign. Help us translate this video: http://www.youtube.com/timedtext_video?ref=share&v=XcGh1Dex4Yo or contact us on [email protected] Brought to you by: http://hushhushvideo.com/ and http://queuepolitely.com/
Views: 2240421 Independent POV
'Revising Commitments: Time Preference and Time-Inconsistency in the Field'
 
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Revising commitments: Time-preference and time-inconsistency in the field Xavier Giné, Jessica Goldberg, Dan Silverman and Dean Yang, University of Michigan UNU-WIDER Conference on Poverty and Behavioural Economics Xavier Giné, World Bank and Ghazala Mansuri
Views: 731 UNU-WIDER
Property and the Social Order | Hans-Hermann Hoppe
 
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Archived from the live Mises.tv broadcast, this lecture by Hans-Hermann Hoppe was presented at the 2011 Mises University in Auburn, Alabama.
Views: 14679 misesmedia
Time Preference, Capital, Technology, and Economic Growth (Lecture 4 of 10) Hans-Hermann Hoppe
 
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"Time Preference, Capital, Technology, and Economic Growth" by Hans-Hermann Hoppe, presented at his "Economy, Society, and History" seminar. Each lecture by Professor Hoppe presents a thorough reconstruction of the foundation of economics, social theory, and politics. Sweeping in scope and powerfully persuasive, these talks are the basis of a grand treatise in the Misesian-Rothbardian tradition. Recorded at the Ludwig von Mises Institute in Auburn, Alabama; May 31-June 4, 2004. Playlist for complete lecture seminar: http://www.youtube.com/playlist?list=PL284CC34619C966E1 * * * * * Hans-Hermann Hoppe is an Austrian school economist of the anarcho-capitalist tradition, a senior fellow of the Ludwig von Mises Institute and a former economics professor at the University of Nevada, Las Vegas. He is the author of Democracy: The God That Failed; The Economics and Ethics of Private Property, and A Theory of Socialism and Capitalism, and is the editor of The Myth of National Defense. Hans-Hermann Hoppe's official websites: http://www.hanshoppe.com http://www.propertyandfreedom.org Links to online books and essays by Hans-Hermann Hoppe: http://mises.org/literature.aspx?action=author&ID=164 http://mises.org/daily/author/164 http://www.lewrockwell.com/hoppe/hoppe-arch.html * * * * * DISCLAIMER: This audio presentation is owned by the Ludwig von Mises Institute and is protected under Creative Commons license (CC BY-NC-ND 3.0). http://creativecommons.org/licenses/by-nc-nd/3.0/ This YouTube channel is in no way endorsed by or affiliated with the Mises Institute, any of its scholars or staff members.
Views: 1293 LibertyInOurTime
Fischer's Rate of Interest ( HINDI )- PART 3
 
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This is the 3rd lecture regarding rate of interest which deals with Fischer's Rate of Interest. COVERING TOPICS..IN WHOLE SERIES... 1.CONCEPT OF RATE OF INTEREST 2.GROSS AND PURE RATE OF INTEREST 3.NEED OF RATE OF INTEREST 4.CLASSICAL THEORY OF RATE OF INTEREST 5. FISCHER’S RATE OF INTEREST 6.CRITICISM OF THE CLASSICAL THEORY OF RATE OF INTEREST 7. NEO CLASSICAL THEORY OF LOAN-ABLE FUNDS AND ITS CRITICISM 8.KEYNES’S LIQUIDITY- PREFERENCE THEORY OF INTEREST RATE AND ITS CRITICISM 9.THE IS – LM CURVE ANALYSIS OF PROF. J . R. HIKES. 10. CRITICISM OF THE IS – LM CURVE ANALYSIS .
Views: 7214 Ideal Coaching
06-01 15  - THE NATURAL INTEREST RATE  w/ Prof.Thorsten Polleit PhD
 
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Thorsten Polleit, PhD is chief economist of the precious-metals firm Degussa and co-founder of the investment boutique Polleit & Riechert Investment Management LLP. He is honorary professor at the Frankfurt School of Finance & Management and associated scholar of the Mises Institute. The "Natural Interest Rate" Is Always Positive and Cannot Be Negative Some economists have been arguing that the “equilibrium real interest rate” (that is the “natural interest rate” or the “originary interest rate”) has become negative, as a “secular stagnation” has allegedly caused a “savings glut.” The idea is that savings exceed investment, and that a negative real interest rate is required for bringing savings in line with investment. From the viewpoint of the Austrian school, the notion of a “negative equilibrium real interest rate” doesn’t make sense at all. The market interest rate is the outcome of the supply of and demand for savings in the market place. It can be observed, for instance, in the deposit, bond, or loan market for different maturities and credit qualities. The originary interest rate is a category of human action, saying that acting man values goods available at present more highly than goods available in the future. In other words: Future goods trade at a price discount relative to present goods. For instance, 1 US$ available today is preferred over 1 US$ available in one year’s time. If 1 US$ to be received in one year’s time is valued at, say, 0.909 US$, the originary rate of interest is 10 percent. (1 US$ divided by 0.909 minus 1 gives you 0.10, or 10 percent, for that matter.) 10 percent is here the originary interest rate (disregarding any other premia). The “Originary Interest Rate” Reflects a Value Differential The originary interest rate is expressive of a value differential, which results from so-called time-preference. The term time-preference denotes that acting man prefers an earlier satisfaction of wants over a later satisfaction of wants. Time-preference is always and everywhere positive, and so is the originary interest rate. This is, first and foremost, what common sense would tell us. The notion that time-preference and the originary interest rate could be zero, does not only sound absurd, it is also a logical impossibility: Positive time-preference and a positive originary interest rate are logically implied in the irrefutably true “axiom of human action.” Human action is purposive behavior, implying the use of means to achieve ends. Action requires time (it is impossible to think otherwise). Thus, time is an indispensable and scarce means for achieving ends. As such, it must be economized, which necessarily implies that an earlier satisfaction of wants is preferred over a later satisfaction of wants. For (praxeo-)logical reasons, therefore, time preference and the originary interest rate cannot fall to zero, let alone become negative. The implications of a negative originary interest rate cannot even be conceived by the human mind: A zero originary interest rate already implies no action ever into eternity. The End of the Market Economy Should a central bank really succeed in making all market interest rates negative in real terms, savings and investment would come to a shrieking halt: as time preference and the originary interest rate are always positive, “capitalistic saving” — the accumulation of goods designed for improving the production process — would come to an end. Capital consumption would ensue, throwing mankind back into poverty. It would be the end of the market economy. The True Purpose of Negative-Interest-Rate Policy For some reason, those who argue that the originary interest rate has become negative seem to overlook that the originary interest rate is a phenomena which is not confined to credit markets. It pervades all markets in which present goods are exchanged for future goods. For instance, the originary interest rate prevails at each stage of the economy’s time-consuming roundabout production. The originary interest rate also exists in the stock market, where investors exchange present money against a claim on future money (that is a firm’s dividend payment). If they wanted to be consistent, the believers in a negative originary interest rate would have to call for a policy that does not only make interest rates negative in real terms in the credit market, but also in the markets for, say, stocks and housing. However, a policy that advocates destroying firms’ values and peoples’ housing wealth wouldn’t be taken too kindly by the public at large; and those economists recommending it couldn’t expect being cheered. The consequence of a policy of a negative real market interest rate should have become obvious by now: It is an actually perfidious policy for debasing the real value of outstanding debt; and it is a recipe for wreaking havoc on the economy.
Views: 1639 GordonTLong

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