The Natural Rate of Interest: A History and Critique

A list of my posts on the natural rate of interest, its history, the various ways it has been defined, and why it is rejected in Post Keynesian economics.

“The Natural Rate of Interest: A Wicksellian Fable,” June 6, 2011.

“Robert P. Murphy on the Sraffa-Hayek Debate,” July 19, 2011.

“Bibliography on the Sraffa-Hayek Debate,” July 20, 2011.

“ABCT without a Unique Natural Rate of Interest?,” September 22, 2011.

“Hayek’s Natural Rate on Capital Goods, Sraffa and ABCT,” December 27, 2011.

“The Natural Rate of Interest in the ABCT: A Definition and Analysis,” February 26, 2013.

“Wicksell’s Natural Rate and Homogenous Capital,” September 25, 2013.

“Colin Rogers’ Money, Interest and Capital, Chapter 2,” June 12, 2014.

“How did Wicksell, the early Austrians and Keynes define the Natural Rate of Interest?,” October 4, 2014.

“Another Example of Wicksell’s Second Definition of the Natural Rate of Interest,” October 8, 2014.

“Ralph Hawtrey on the Natural Rate of Interest,” October 10, 2014.

“Axel Leijonhufvud’s ‘The Wicksell Connection’: A Review,” October 11, 2014.

“Alfred Marshall on the Natural Rate of Interest,” October 13, 2014.

“Thomas Joplin on the Natural Rate of Interest,” October 16, 2014.

“The Proto-Natural Rate of Interest and Henry Thornton,” October 17, 2014.

“David Ricardo on the Natural Rate of Interest,” October 18, 2014.

“Alfred Marshall’s Interest Rate Theory,” November 3, 2014.

“Rothbard on the Natural Rate,” November 5, 2014.

“The Natural Rate and New Consensus Macroeconomics,” November 15, 2014.