There are two specific types of future goods that enter the time market: credit transaction; and the purchase of producers’ goods and services, which are transformed over a period of time, finally to emerge as consumers’ goods. Put differently, credit transaction doesn’t exhaust the time market.
“The time market is therefore not restricted to the loan market. It permeates the entire production structure of the complex economy.”
Related:
- 2-1b Seeing the unseen (面影・うつろい)
- 3-1a4a1 The whole must be evoked in explaining the parts
- 5-2 What counts cannot be counted
- More precisely, it is the production with which capitalists are involved that constitute the time market:
- 13-5b The capitalists are the only ones who spend money on labor, land, and capital goods
- 13-5b1 Without the capitalists, the income earned by the owners of land and labor fluctuates with consumer demand and is received at a much later date
- 13-5e The capitalists are constrained by the aggregated time-preference schedules just as sellers of any other present goods are constrained by the aggregated demand schedules of the consumers