Abstract
The basic issue we addressed in chapters 5 and 6 was how much of A a person is willing to give up now for one more unit of B now. However, many goods provide services over a period of time. Thus, we must also ask what quantity of A a person would give up now for one more unit of A to be received later. In general, the more we eat today, the less we will have to eat tomorrow.
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Suggested Readings
Greenspan, A. “Commercial Banks and the Central Bank in a Market Economy,” paper presented at Spaso House, Moscow, October 10, 1989.
Hirshleifer, J. Price Theory and Applications, New Jersey: Prentice Hall, 1984, chapter 14.
McCloskey, D. The Applied Theory of Price. New York: McMillan, 1982, chapter 26.
Posner, R. Economic Analysis of Law. New York: Little Brown & Co., 1986, chapter 15.
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© 1990 Kluwer Academic Publishers
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(1990). The Role of Financial Markets in a Private-Property, Free-Market Economy. In: The Economics of Property Rights: Towards a Theory of Comparative Systems. International Studies in Economics and Econometrics, vol 22. Springer, Dordrecht. https://doi.org/10.1007/978-0-585-28557-3_9
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DOI: https://doi.org/10.1007/978-0-585-28557-3_9
Publisher Name: Springer, Dordrecht
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