Corrupt Money and Centralization of The State | The Stephan Kinsella Series | Episode 6 (WiM303)
The "What is Money?" Show
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The Importance of Time Preference in Economics
Austrian economists recognize the fact of time and thus of time preference, which means that when we act, we're always acting at aiming at some change in the future. So you have a certain value attached to the present, but you value in the future too. But the future is less valuable because it's not here yet, right? That's why you're certain. It's less certain and it’s not here yet. All right. We want more humans being productive more often. And that actually increases the aggregate wealth creation for everyone.
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