Time Preference

Mises in LibraryThis week’s Mises Circle meetup will focus on “Time Preference as an Essential Requisite of Action” from Ludwig von Mises’s magnum opus, Human Action.

Mises argues that time preference, the assumption that ceteris paribus acting man prefers a given end sooner rather than later, is a necessary category of human action. From here, one can begin to logically deduce an understanding of savings, interest, production, and eventually the business cycle.

HTML page: https://mises.org/humanaction/chap18sec2.asp

E-book in multiple formats: https://mises.org/document/3250
Robert Murphy study guide: https://mises.org/pdf/humanaction/Chapter_XVIII.pdf
Bonus reading – “Time Preference, Government, and the Process of Decivilization – From Monarchy to Democracy” by Hans-Hermann Hoppe:
This essay on political economy looks at how certain forms of government, specifically monarchy and democracy have different effects on the time preferences of individuals living in the society, which has logical implications to the wealth of a society and its protection of liberties.
When: Monday, September 24th at 7pm
Where: Waggener 308