The rate of interest can be uniform in the evenly rotating economy, because the incommensurable differences are mediated by time-preference schedules—which are comparable thanks to money.develop

“We cannot compare utilities or values between persons, but we certainly may say that A’s time-preference schedule is higher than B’s. In other words, it cannot make sense to compare the rankings or utilities that the two men accord to any particular unit of a good, but we can (if we know them) compare their schedules based purely on their demonstrated time preferences.” (p. 385)

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