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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|Ludwig von Mises||There is no such thing as a nonspeculative investment. In a changing economy action always involves speculation. Investments may be good or bad, but they are always speculative.||Human Action|| p. 514; p. 517||Investment