Reply To: The Impact of Technology on Böhm-Bawerk's Interest Theories


Hi Patterico,

I may be the one who has this “twisted”, but the way I hear the story is that the amount of money I make is related to (directly proportional to) the value of the good or service I produced with my hour of labor. In the future, that same amount of good will be worth less because of increases in “leverage” gained by technology….so if rather than money, I were able to take the actual good (now represented by money) I made today into the future, it would naturally be worth less because the amount of labor to create it then would be less.