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Time, Capital, and Civilization | The Song Series | Episode 1 (WiM080)
The "What is Money?" Show
Low Time Preference Behavior
As societies get higher time preference, there is a tendency to not build things that last. A lot of homes just get destroyed after 20 years, ther out of style, or something like that. But cathedrals in europe have lasted over a thousand years ing. That's civilizizing verseus. Whereas, you know, some some of the stuff that's being built now, it's very high time preference. It's just for my lifetime. Some people are even much shorter than thati's o whatever i'm going to do for the next couple of years.
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