time preference Archives - Emile Woolf writes


“GOING POSTAL” 25-2-19         [ECONOMIC PERSPECTIVES no. 50: EMILE WOOLF] ECONOMIC DISTORTION, COURTESY OF YOUR CENTRAL BANK Governments rarely set out to take responsibility for every single issue, but that usually happens anyway. As a result there is a growing expectation by citizens that, whatever the problem, it is the government’s job to sort it out […]

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Understanding Economics 4 – Interest rates

Let’s look more closely at the role of interest rates Money is one of many forms in which wealth may be held, but money and wealth are not synonymous. Wealth is the accumulation of savings. Savings, in a business, are what is left after meeting all its direct and indirect costs, depreciation, distributions to the […]

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Economic Perspectives 3: Interest Rate Suppression

The importance of interest rates I have written many times of the persistent but forlorn attempts by central bankers to “stimulate” growth in their countries’ flagging economies by applying the twin practices of quantitative easing (QE) and lowering interest rates. It has been clear for years that these policies simply do not work. The only […]

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