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2min chapter
Praxeology: The Study of Human Action with Knut Svanholm (WiM332)
The "What is Money?" Show
The Importance of Time Preference
Man prefers present satisfaction to later satisfaction. The further off into the future you are, the more uncertain it becomes. What a steady wage can give you is a sense of security. And that whole thing breaks down also when there's too much inflation and when money breaks.
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