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#284 – Saifedean Ammous: Bitcoin, Anarchy, and Austrian Economics
Lex Fridman Podcast
Is There a Positive Effect of Lower Time Preference?
There's some things in life where low time preference could be a negative thing. So what can you say about potential positive effects of lower time preferences? I mean, it's a balance. Under the gold standard, the way that people finance things was predominantly with capital, with equity. When you wanted to start a business, you could use your own savings or somebody else's savings. And then you can take a risk with the stuff that is extra. You know, I have three years expenditures in gold under my mattress. Still okay to take on debt given the stuff to gold and to the mattress.
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