State manipulation of interest rates, however, does not influence time preference, even though it signals such a change. The resulting inconsistency creates distortions: as with any price control, capital receives an incentive to flow to investment that is inconsistent with actual supply and demand.
然而，国家对利率的操控并不影响时间偏好，尽管它显示了这样的变化。由此产生的不一致性导致了扭曲：如同一切价格管制一样，资本得到了流向与实际供求不一致的投资的激励。