Interest rates thus incentivize and convey to entrepreneurs how to allocate capital through time. For example, lower interest rates and cost of capital raise the relative attractiveness of cash flows further in the future, and capital investment increases – the system’s natural homeostatic response to higher savings and lower consumption.
于是，利率激励并指导企业家如何在不同的时间间配置资本。比如，低利率和资本成本增加了未来现金流的相对吸引力，从而增加了资本投资，这便是系统对高储蓄、低消费的自动平衡机制。