2 Matching Annotations
  1. Aug 2022
    1. As humans lower their time preference, they develop a scope for carrying out tasks over longer time horizons. Instead of spending all our time producing goods for immediate consumption, we can choose to spend time creating superior goods that take longer to complete but benefit us more in the long run. Only by lowering time preference can humans produce goods that are not meant to be consumed themselves but are instead used in the production of other goods.

      Only when humans are able to lower their time preference are they able to focus on producing goods that benefit them in the long term, rather than those that are meant for immediate consumption.

  2. Oct 2020