This book is forcing me to wrestle with the idea of time preference and has really given me a different perspective. It’s easy to adopt the Austrian framing of low time preference, but I think there’s an important difference between avoiding the hedonic treadmill and status games versus intentionally pursuing a high quality life. Time has a real price, and every day we’re deciding what it’s worth. Low time preference makes sense for things that are meaningful like; wealth, family, wisdom, health, and purpose, while still remembering to actually live in the present. The mistake isn’t spending time or money today, it’s spending them unconsciously on things that don’t move the needle, bring purpose or virtue.

This book is forcing me to wrestle with the idea of time preference and has given me a more nuanced perspective. It’s easy to adopt the Austrian framing of low time preference wholesale, but I think there’s an important distinction between avoiding the hedonic treadmill and status games versus intentionally pursuing a high-quality life. Time has a real price, and every day we’re implicitly deciding what it’s worth. Low time preference makes sense for things that compound meaningfully: wealth, family, wisdom, health, and long-term purpose, while still remembering to actually live in the present. The mistake isn’t spending time or money today, it’s spending them unconsciously on things that don’t move the needle.

GM

Beware of unearned wisdom