117. The Problem with Interest with Tarek El Diwany (and Allen Farrington!)
The Bitcoin Standard Podcast
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Do We Discount the Future?
Time preference exists because humans are mortal. We die. There's always uncertainty. So we prefer the satisfaction of early needs, because the present is certain and the future is uncertain. But where i agree with you is that this does not necessarily translate to a market interest rate. And then it arrives at a similar conclusion to you on terms of the high time preference,. A consequence of which is that we deplete our capital stock - in terms of the natural capital stock, we deplete to form.
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