Introduction to the Theory of Interest

An Introduction to the Theory of Interest, published by the Bureau of Business and Economic Research at the University of California, offers an authoritative exploration of one of the most central and complex concepts in economic theory. From its roots in ancient philosophy, where Aristotle and Church Fathers debated its morality, to its critical role in modern economic thought, the concept of interest has consistently challenged the analytical frameworks of great thinkers. This comprehensive volume situates interest at the crossroads of history, theory, and empirical analysis, shedding light on its evolution and enduring relevance in economic discourse. Professor Conard brings over a decade of meticulous research to this exhaustive study, blending rigorous theoretical inquiry with practical insights drawn from first-hand experience in financial markets. Covering everything from the contributions of Ricardo and Keynes to the mechanisms of contemporary interest rate systems, this work serves as both a historical review and a practical guide. Whether you are a student of economic history, a policy analyst, or simply an enthusiast of financial theory, An Introduction to the Theory of Interest offers invaluable perspectives on the intricate dynamics of interest rates and their profound impact on fiscal and monetary policy. This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1959.