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Do Monarchs Always Have Low Time Preferences?
Hans Hoppe theorized that monarchs, as opposed to democratically-elected political authorities, would have lower time preferences and would be less likely to engage in reckless government spending. Unfortunately, at least one Medieval Danish king acted like a modern politician.
Original Article: Do Monarchs Always Have Low Time Preferences?
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By Mises Institute
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Hans Hoppe theorized that monarchs, as opposed to democratically-elected political authorities, would have lower time preferences and would be less likely to engage in reckless government spending. Unfortunately, at least one Medieval Danish king acted like a modern politician.
Original Article: Do Monarchs Always Have Low Time Preferences?
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