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arthur_affect's profile
Arthur Chu
Arthur Chu
Arthur Chu
Verified account
@arthur_affect

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Arthur ChuVerified account

@arthur_affect

Mad genius, comedian, actor, and freelance voiceover artist broadcasting from the distant shores of Lake Erie (he/him)

Broadview Heights, Ohio
arthur-chu.com
Joined August 2009

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    1. Arthur Chu‏Verified account @arthur_affect Mar 23
      Replying to @Snark150 @capoczino and

      "Low time preference" is economist jargon for the attitude better known by laypeople as "Just hold on, the check's in the mail"

      2 replies 6 retweets 25 likes
    2. Sesquicentennial Snark‏ @Snark150 Mar 23
      Replying to @arthur_affect @capoczino and

      1/2 Thank you. That helped me to search more: "Generally, a high time preference is associated with a low will to renounce to the present gratification in order to obtain a benefit in the future. ...

      1 reply 0 retweets 0 likes
    3. Sesquicentennial Snark‏ @Snark150 Mar 23
      Replying to @Snark150 @arthur_affect and

      2/2 ... On the contrary, consumers with low time preference are more willing to undertake short-term costs to get future improvements." (Source: http://centmapress.ilb.uni-bonn.de/ojs/index.php/proceedings/article/view/1323 …)

      1 reply 0 retweets 0 likes
    4. Sesquicentennial Snark‏ @Snark150 Mar 23
      Replying to @Snark150 @arthur_affect and

      So, as a layperson, I would associate (non-judgmentally) "impatience" with high time preference and "patience" with low time preference.

      2 replies 0 retweets 2 likes
    5. Sesquicentennial Snark‏ @Snark150 Mar 23
      Replying to @Snark150 @arthur_affect and

      I have a "time preference" with time as an adjustable parameter which is determined e.g. by the response times of the processes which I am dealing with. There are processes which don't have the consciousness required to exploit and/or enslave anybody.

      2 replies 0 retweets 1 like
    6. Arthur Chu‏Verified account @arthur_affect Mar 24
      Replying to @Snark150 @capoczino and

      The point is that people who exhort you to "lower your time preference" are usually making a statement about predicting the future they have no right to make

      3 replies 1 retweet 15 likes
    7. Arthur Chu‏Verified account @arthur_affect Mar 24
      Replying to @arthur_affect @Snark150 and

      You're right that I'm not just bloodlessly describing the objective definition of the term "time preference" as used by economists, I'm addressing the culty way it's exploded 20,000x in daily usage by members of the Bitcoin cult

      3 replies 1 retweet 17 likes
    8. Arthur Chu‏Verified account @arthur_affect Mar 24
      Replying to @arthur_affect @Snark150 and

      In which they use the term in the exact same classic way that other cults have used similar terms like "faith"

      1 reply 1 retweet 12 likes
    9. Arthur Chu‏Verified account @arthur_affect Mar 24
      Replying to @arthur_affect @Snark150 and

      (Indeed the classic proverb "A bird in the hand is worth two in the bush", which is often cited as an illustration of the concept of "temporal discounting", gets a whole aside in Pilgrim's Progress where they talk about how that proverb came from the Devil to lead men to Hell)

      1 reply 1 retweet 18 likes
    10. Czino.prototype //  🟧 ⬛️  👫 🌱 🛠 🏚‏ @capoczino Mar 24
      Replying to @arthur_affect @Snark150 and

      Dude, low time preference does not mean to never do anything. If opportunity comes your way, seize it. But what we are criticising is not people using the "bird" in their hand but flinging "poop" (i. e. mal investments because money degrades in value and must be used NOW)

      1 reply 0 retweets 1 like
      Arthur Chu‏Verified account @arthur_affect Mar 24
      Replying to @capoczino @Snark150 and

      Forcing rich people to spend their wealth instead of hoarding it is a feature of the system and, judging by how much they're sitting on in assets, one we're not pushing nearly hard enough (inflation right now is far too LOW)

      1:16 AM - 24 Mar 2021
      • 4 Retweets
      • 34 Likes
      • Bingo Bango Lenoxus 7Z MacCrocodile Garulon Karl Schults Cyn The Mack Daddy of Bloopo County 🧦🌋 Horrible Checkers Lad Appreciator
      3 replies 4 retweets 34 likes
        1. New conversation
        2. Czino.prototype //  🟧 ⬛️  👫 🌱 🛠 🏚‏ @capoczino Mar 24
          Replying to @arthur_affect @Snark150 and

          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.

          1 reply 0 retweets 1 like
        3. Czino.prototype //  🟧 ⬛️  👫 🌱 🛠 🏚‏ @capoczino Mar 24
          Replying to @capoczino @arthur_affect and

          Please tell me again how inflation is good. You know who receives the newly printed money first? Not you and me...

          1 reply 0 retweets 1 like
        4. Show replies
        1. New conversation
        2. Arthur Chu‏Verified account @arthur_affect Mar 24
          Replying to @arthur_affect @capoczino and

          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"

          3 replies 1 retweet 15 likes
        3. Arthur Chu‏Verified account @arthur_affect Mar 24
          Replying to @arthur_affect @capoczino and

          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

          4 replies 4 retweets 24 likes
        4. Show replies
        1. Liberal Arts and Crafts‏ @LibArtsNdCrafts Mar 24
          Replying to @arthur_affect @capoczino and

          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.

          0 replies 0 retweets 0 likes
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