Ludwig von Mises: "Interest is the difference in the valuation of present goods and future goods; it is the discount in the valuation of future goods as against that of present goods." - Planning for Freedom
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Browse by subject: Economic Progress
|Ludwig von Mises||Economic progress is the work of the savers, who accumulate capital, and of the entrepreneurs, who turn capital to new uses. The other members of society, of course, enjoy the advantages of progress, but they not only do not contribute anything to it; they even place obstacles in its way.||Epistemological Problems of Economics|| p. 228||Economic Progress