Economics

>>2061972
Think post-apocalyptic decline of civilization scavenging economy. Economy can exist without economic growth.

>>2062019
Yes, but what did he -mean-

>>2062076
He meant that if you were a shipwrecked sailor, maximum ROI would be in trying to salvage preserve what you have, but that would still be on average negative.

>>2061972
Why was he shouting?

>>2061972
this was in the context of commodities that are decreasing in value

http://www.econlib.org/library/YPDBooks/Fisher/fshToI8.html

>Suppose our sailors were left not with a stock of hard-tack, but with a stock of figs which, like the hard-tack, can be used at any time as desired, but which, unlike the hard-tack, will deteriorate. The deterioration will be, let us say, at a fixed and foreknown rate of 50 per cent per annum. In this case (assuming that there is no other option available, such as preserving the figs) the rate of interest in terms of figs would be necessarily minus 50 per cent per annum, as may be shown by the same reasoning that established the zero rate in the hard-tack case.

Yes so if we had an amount of decreasing provisions or somehow just enough resources produced through nature, then the interest rate would be effectively zero? Or is this an oversimplification?