There's a conservative meme going around mocking an antiracist education packet that lists a bunch of stereotypically "white" traits, which they find ironic because they think of those traits as objectively superior traits One of those traits is "low time preference"
-
Show this thread
-
I want to drill down on that one, because I very, very strongly believe that "low time preference" is a fucking scam "Low time preference" is jargon for valuing the future as much as the present, "a bird in the hand is 1/2 as much as two in the bush"
5 replies 11 retweets 118 likesShow this thread -
The thing is, having "time preference" -- I'd rather have the certainty of a reward now than an uncertain reward in the future -- IS COMPLETELY RATIONAL For EVERYBODY We all know this -- you could get struck by lightning this afternoon and your plans for tomorrow evaporate
5 replies 17 retweets 159 likesShow this thread -
"Low time preference" is a "pro-social" trait because it makes you EASIER TO EXPLOIT It means that you BELIEVE bosses who say that they can't pay you up front but the check will be coming in the mail
3 replies 23 retweets 169 likesShow this thread -
Even in a world where contracts are completely enforceable and reliable (a "high-trust society") it means bosses still come out ahead Every so often, someone gets hit by a truck or keels over of a heart attack before their paycheck was due, and you don't have to pay it
2 replies 7 retweets 112 likesShow this thread -
Replying to @arthur_affect
Even after all this I still have no idea what "low time preference" even means? Like it makes no grammatical sense to me and near as I can figure should mean "enjoys watching speed run videos"...
1 reply 0 retweets 0 likes -
Replying to @AugustFresnel
"Time preference" means changing how much you value something or care about it based on when it happens Having a "low time preference" means it doesn't matter very much to you whether you get paid now, in six weeks, or in ten years
1 reply 0 retweets 4 likes -
Replying to @arthur_affect
Huh. That interpretation still does not map to that arrangement of English words in my brain like at all, but I'll file that away and hopefully remember it if it ever comes up...
2 replies 0 retweets 0 likes -
Replying to @AugustFresnel
It's from econ, where it's common jargon to use a noun as an adjective over "preference" to simply mean "having a preference" If I think all bananas are the same then I have "no ripeness preference", if I only eat green bananas or black ones I have a "high ripeness preference"
1 reply 0 retweets 4 likes -
Replying to @arthur_affect @AugustFresnel
It confuses some people because the "high" or "low" doesn't refer to what the preference *is*, it just means you have one It's assumed when talking about "time preference" that if you have one at all it's a preference for less time
1 reply 0 retweets 4 likes
Someone who says "No, I refuse to be paid now, you must pay me only in fifty years" could theoretically exist but is out of scope of the discussion
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.