You Can Predict Someone’s Class by How Far Ahead They Plan

Описание: In this enlightening talk, we delve into the concept of time preference, exploring how the willingness to delay gratification impacts long-term outcomes in life, economics, and social class structures. Discover why individuals with a high time preference often face suboptimal life outcomes, and how different social strata—from lower class to old money elites—demonstrate varying time horizons in their planning. Learn about the broader implications for businesses and institutions, and how short-term thinking can undermine long-term growth and stability. This episode provides valuable insights into the behavioral traits that define success and resilience, both individually and collectively.

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Chapters:
00:00 Understanding Time Preference
00:47 The Marshmallow Test and Social Class
01:23 Impact of Time Preference on Life Outcomes
02:33 Behavioral Examples of Time Preference
05:56 Time Preference in Social Classes
09:18 Challenges and Rebuttals
10:42 Institutional Time Preferences

Citations:
The Marshmallow Study: https://www.thoughtco.com/the-marshma...
Success of Family Owned Companies:    • How Many Founding Families Still Own Their...  

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