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Inflationary monetary policies relatively benefit those with high time preference, while deflationary monetary policies relatively benefit those with low time preference.
Its curious how this overlaps culture. Clearly there is some type of correlation between "clown world culture" and fiat induced inflationary spiral.
A rather clear view is how modern companies no longer need to be worried about profit or even nominally satisfying their customers (see. NFL, Disney, etc). This is because artificially low interest rates and other Cantillion-effects provides an easier path for capital accumulation than does the hard work of satisfying customers.
However, I suspect this also spirals out into less clearcut, more murky effects. For instance the push towards abortion, the general animus against traditional nuclear family, the push against biological gender roles, etc...all in some ways are connected to the "high time preference" reward structure....albeit much less rigidly apparent.
Have you read any of Hoppe's writing about how the state distorts culture? He touches on a lot of those topics and a bunch of others.
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60 sats \ 2 replies \ @freetx 9 Apr
I know he did write on them, but never directly read any of it. Any recommendations?
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It took me a while to figure out where he got into this in the most detail. I couldn't find an article or essay that just focused on culture, but in Democracy: the God that Failed he discusses cultural distortions pretty extensively.
This is also his most famous work, so it's a good place to start anyway.
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Agreed. That book made me think. Always the sign of a worth while book.
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BLM antifa
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