13-4d4d A man is necessarily a consumer, but not necessarily a producer

A man is necessarily a consumer—because one has to consume some amount in the present—but is a man necessarily an entrepreneur, an investor, a producer?revisit

“Every man must consume in the present, and this drastically limits his savings regardless of the interest rate. After a certain point, a man’s time preference for the present becomes infinite.”

“There is, in fact, never any need to worry about the maintenance of consumer spending.” (p. 403)

Related:

• The interest rate is not the cause
  • 13-5f The interest rate is determined by the time-preference schedules, rather than vice versa
• On producing
  • 5-3e Matt Ridley - ‘Knowledge is both a public good and a temporarily private one. Knowledge is expensive to produce, but can sometimes pay for itself.‘
  • 7-1b0 The creator-user (or producer-consumer) distinction is arbitrary. There are no ‘producers’ and ‘consumers’ in the non-human world.
  • 13-1a3a2d The more extended the market, the more will exchange-values (as compared to direct use-values) predominate in the decisions of the producer
  • 13-1a3a2e Some products are produced because of the greater extent of the market