Private property rights are crucial to economic prosperity. Without them, it becomes impossible to set up a system of free markets that allows for rational economic calculation. Despite this, property...
Soham Patil
Soham Patil is a high school senior at Symbiosis International School. He is passionate about Austrian Economics and Philosophy.
Latest work
Economists use time preference to explain the existence of interest, but the ability of people to postpone some present consumption in order to save for the future has much broader social ramifications.
Time preference refers to the preference of satisfaction in the present as compared to a future time. A person who heavily prefers current consumption to future consumption has a high time preference...
