"Low time preference" is economist jargon for the attitude better known by laypeople as "Just hold on, the check's in the mail"
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Interesting you jump directly to the rich. You know what they are buying is real estate because it's a great way to park their value. You also know what happened to real estate prices over the last decades? You also know who cannot live in said real estate because of that.
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Please tell me again how inflation is good. You know who receives the newly printed money first? Not you and me...
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Back when people talked about this shit more in popular fiction Robert Anton Wilson described his idealized currency in the Illuminatus! trilogy The anarcho-socialist hippies he idealizes pay for everything in "scrip" that "starts to burn as soon as you touch it"
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Money is a "hot potato" - the only reason to have it is to immediately spend it, because all it actually is is fulfilling its original purpose of "keeping track of favors" people do for each other, and in real life, among friends, debts expire over time
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inflation (within reason) is good, but there's no level of inflation that will make rich people stop hoarding assets, since those appreciate in value roughly in line with inflation.
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