検索キーワード： 著者 "Frank Albert Fetter" すべてのカテゴリー

Frank Albert Fetter was an American economist of the Austrian school, but referred to himself as a member of the “American Psychological School” instead. Fetter contested the position that land is theoretically distinct from capital, arguing that such a distinction was impractical. His stand on this issue led him to oppose ideas like the land value tax. Fetter also asserted that just as the price of each consumer good is determined solely by subjective value, so the rate of interest is determined solely by time preference. He maintained that time valuation was prerequisite to the ...

Frank Albert Fetter was a groundbreaking American economist closely associated with the Austrian school, though he preferred the label of the American Psychological School. He boldly challenged the traditional separation of land and capital, arguing that such distinctions were impractical and led him to oppose ideas like the land value tax. Fetter believed that just as consumer goods prices are shaped by subjective value, the interest rate is influenced by time preference. He underscored the importance of understanding time valuation in determining the market rate of interest, which plays a ...