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Summary of Edward Chancellor's The Price of Time
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Listen now to get the main key ideas from Edward Chancellor's The Price of Time.
Interest serves as an incentive for creditors to lend their money instead of hoarding it. In The Price of Time (2022), finance journalist Edward Chancellor explores the origins of interest and its evolution over millennia. He examines the consequences of unnaturally low interest rates, such as asset price bubbles, reduced productivity growth, elevated debt levels, and increased inequality. Chancellor warns that such adverse consequences could lead to another crisis in the global financial system if left unaddressed.
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