The Price of Time by Edward Chancellor delves into the history and function of interest rates in the economy and financial markets. The book argues that interest rates play a crucial role in determining how capital is allocated and priced, and that their decline over the past two decades has had negative effects on the economy, including the creation of asset price bubbles, a reduction in productivity growth, and an increase in inequality. Chancellor also explores the concept of interest as the "price of time" and how it encourages saving, enables the pricing of assets, and allows for the pricing of risk. The book provides an in-depth look at the economic and financial implications of interest rates.