We often have a short time preference when it comes to getting tasks done in life and in development. I think we can all benefit from broadening our time horizon when making decisions. I was inspired by Bitcoin and the Bible Episode #20 Time Preference on thinking with a longer time preference with Bitcoin, life and eternity. (lower your time preference - longer term thinking). The Bitcoin Standard also has an informative section on the affect of central planning and inflation on time preferences.
"In economics, time preference (or time discounting, delay discounting, temporal discounting, long-term orientation ) is the current relative valuation placed on receiving a good or some cash at an earlier date compared with receiving it at a later date." ~ https://en.wikipedia.org/wiki/Time_preference
How many times have you hurried through a task and then later had to re-do work or it wasn’t good enough?
How many times have you bought something that was cheaper or on a quick whim, then send it to the thrift store or landfill a few years later? Was that really a good purchase?
How many times have you eaten something that is really tasty, but didn’t feel so well later? Have you thought about the long term effects of your food choices?
How many times do you stop to think about the long term effects of building a relationship or encouraging someone?
These temptations to act short term don’t always lead to the best results.
The next time you have a business problem to solve with technology (code, automation, no code, communication are all included) or are thinking about buying something or are in relationship with someone, I encourage you to Think in Longer Terms.
How will this change affect my business? What could I do know to improve work in the future (“improving daily work is more important than daily work” as Gene Kim says)?
If I saved for the future (maybe even in Bitcoin), would that turn out better for me and my family, than spending it now?
If I ate better now, would that improve my short and long term health?
How would spending more time with my wire or kids or friends, improve life for all of us?
Think further, where will I be after I die and into eternity? There is a Gospel/Good News for that!
Time goes fast! Day by Day by Andrew Peterson offers a good perspective.
Thanks to The Morning Dew for linking to this article, even before I had completed it.
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(ok, sometimes getting it first to market is very important or just dealing with the problem at hand as Swizec points out)
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