درآمدي بر ريشه هاي ذهني ايجاد بهره از نظر بوم باورك

An Introduction to Subjective Origins of Interest from Bohm-Bawerkʹs viewpoint (a critical study)

Bohm-Bawerk asserts that there are three origins for interest. The first origin is "time preference". The second is "diminishing marginal utility" and the third is "round-about production" (or productivity of capital goods). The first and second origins are named as subjective origins. In this paper, we introduce these two origins and then we will criticize them with a new innovative theoretical approach. The results show that these two origins for positive market interest rate, hasnʹt any rational bases. These origins come from irrationality behavior. Also we introduce a mathematical model that shows "positive time preference has strong direct effect on inflation".