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Chapter 6: Capitalism's information system

Prices carry information about scarcity and demand, and interest rates are the price of time. Drawing on Hayek and Mises, the author argues that when a central bank sets interest rates, it distorts the signal that coordinates saving and investment, which he sees as the root of boom-and-bust cycles. He presents sound money as a way to let prices, including the price of time, form freely.

Summary in our own words, not a quote from the book. The author's arguments, not investment advice. Book · Author's course