Lesson 8 of 11 · 7 minutes
Time preference
Acting people compare present satisfaction with future satisfaction. Waiting has to be worth it.
Situation
You can spend $80 tonight or save it for a tool that will help you earn more next month.
What is the core comparison?
Answering is the main action. The other two controls open the distinctions without marking the lesson complete.
Goal, means, alternative
Notice one choice today where future-you is bidding against present-you.
Time preference is not an abstract interest-rate topic. It appears in every choice between present use and future gain.
Bohm-Bawerk and Mises place time at the center of capital, saving, and interest. Open the source for this claim →
Connected lab
See the same distinction move.
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No graded answer