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407. Discussing Communism in All its Glory | Michael Malice

The Jordan B. Peterson Podcast

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Effects of High Time Preference and Low Time Preference

People with high time preference tend to prioritize immediate rewards over long-term goals, often due to a lack of trust in the future. This mindset can be prevalent in impoverished areas, where individuals struggle to envision and plan for a distant future due to concerns about meeting their basic needs day to day. The instability created by high time preference extends to broader societal issues, such as difficulty in making long-term contracts and the negative impact of inflation on conscientious individuals.

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