3min chapter

80,000 Hours Podcast cover image

#6 - Toby Ord on why the long-term future matters more than anything else & what to do about it

80,000 Hours Podcast

CHAPTER

The Pure Rate of Time Preference

The value you get out of money is logarhythmic in the amount of money that you have access to. doubling a the amount of your income gives you one more unit of happiness, i am. So if you combine those ideas of to mis imagin all returns on money, and the fact that woul be richer in the future, it means that, like financial benefits, if they goung to happen in the future,. i have to be bigger in order to make same impactas as ones that happened now. Mand this is the a ramseys method of discounting. On top of that very sensible thing, they often add an additional a discount rate called the pure rate of time

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