History/Culture, Politics/Economics

How “Time Preferences” Make Or Break Civilization

Ask a regular Joe about time preferences and they’ll be clueless. Heck, ask anybody who isn’t initiated in Austrian Economics and you’d expect a similar response. It’s a shame that such a crucially important topic is overlooked and ignored by economists and other social scientists. One's time preference refers to how much he values present… Continue reading How “Time Preferences” Make Or Break Civilization