Bob revisits capital and interest theory to show why the textbook result “interest = MPK” only holds in a one-good world, and why in actual markets the interest rate emerges from time, prices, and capital valuation—not raw productivity. Bob and Alberto Bisin Discuss the Use of Mathematics in Economics: Mises.org/HAP527a Bob's Dissertation, "Unanticipated Intertemporal Change in Theories of Interest": Mises.org/HAP527b The Mises Institute is giving away 100,000 copies of Hayek for the 21st Century. Get your free copy at Mises.org/HAPodFree
