In "The History of Interest Rates," Homer and Sylla 📚 show a 5,000-year process of decline in interest rates.

🧵As individuals lower their time preference and accumulate more capital, their productivity increases, resulting in...
                                                                                                     
An incentive to further lower their time preference.⌛
 
''The move toward harder monies with better salability across space and time can be viewed as a contributor to the epochal decline in time preference by allowing humans better savings technology, making the future less uncertain for them, and thus making them discount it less, resulting in more savings, and thus more capital available at lower interest rates.''-Saifedean Ammous. https://image.nostr.build/4ea1671020ac6bf6e2ad352eb9180e7d04a8eb8b2f2d75a45a145d8baaaa6887.jpg