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Low Time Preference Leads to Civilization
Economists use time preference to explain the existence of interest, but the ability of people to postpone some present consumption in order to save for the future has much broader social ramifications.
Original Article: Low Time Preference Leads to Civilization
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By Mises Institute
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Economists use time preference to explain the existence of interest, but the ability of people to postpone some present consumption in order to save for the future has much broader social ramifications.
Original Article: Low Time Preference Leads to Civilization
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