piriya on Nostr: Spending on a sound money standard happens after a certain 'maturity' period. The ...
Spending on a sound money standard happens after a certain 'maturity' period.
The more people save today, the more they can, and will, spend in the future.
Deferred consumption is very different from consumption sacrifice, as the former merely postpones consumption while the latter involves willingly and intentionally giving up or incurring a cost in terms of money, time, or preference. Consumption sacrifice represents a permanent forfeiture of consumption rather than just delaying it to a future date.
This is something Keynesians are not willing to understand as it complicates the use of monetary and fiscal policies.
Lower your time preference does not equate to abandoning your time preference.
Life is easier under the bitcoin standard.
The more people save today, the more they can, and will, spend in the future.
Deferred consumption is very different from consumption sacrifice, as the former merely postpones consumption while the latter involves willingly and intentionally giving up or incurring a cost in terms of money, time, or preference. Consumption sacrifice represents a permanent forfeiture of consumption rather than just delaying it to a future date.
This is something Keynesians are not willing to understand as it complicates the use of monetary and fiscal policies.
Lower your time preference does not equate to abandoning your time preference.
Life is easier under the bitcoin standard.