
SLP485 What is Inflation? with Jonathan Newman
Stephan Livera Podcast
00:00
The Social Rate of Time Preference
Time preference just refers to the way that we prefer present consumption. So Rothbard talks a lot about this in man economy and state. And so does Mises in human action. They talk about how the market comes together with these different rates of time preference is harmonious and it's value productive.
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