The Importance of Time Preference in Human Growth

Humans have accumulated capital over thousands and thousands of years because of this idea of being able to think of the future. We don't just build a house for today. We build a house that lasts longer. And so in my opinion the lower time preference the more people are all going to prosper. It affects all aspects of individual life. People's ideas of time, family, society, culture, everything blossoms when people are able to accumulate more and more capital and grow.