AIM Framework glossary
Time Value of Money (as Confabulation)
Canonical definition
The proposition that a unit of currency available now is worth more than a unit available at a future date, conventionally offered as the justification for interest, reframed under AIM as a confabulated narrative that conflates four distinct phenomena (opportunity cost decomposed into PA/PI/P_M, risk-bearing, inflation adjustment, and measured time preference) and thereby conceals the PM-extractive character of interest on surplus capital.
Explanation
The standard defence of charging interest. It sounds intuitive because it packages four different things under one label and treats them as if they were a single property of money. When they are separated, only tiny portions are legitimate A-Functional Price or I-Adequate Price components. The remainder is Mimetic Premium extraction on surplus capital, concealed by the confabulation.
Epistemic status
Framework-Specific Construct.