Time Preferences form a spectrum, from the very short (high), to the very long (low) — just as do frequencies of light.
As one’s [glossary:time preference] increases in length (lowers), and the ability to perceive abstracts must necessarily increase.
As one’s ability to perceive abstracts decreases, time preference also must necessarily decrease (lower).
On average we all see a similar portion of the spectrum. Some the shorter and lower, some the longer and higher.
Concepts are the equivalent of production cycles. And concepts of different lengths are incommensurable.
Therefore human beings habituate and reinforce their time preferences, until they can no longer recognize or attribute value to concepts in the other portions of the spectrum.
At that point of habituation, [glossary:Time Preference] becomes [glossary:Time Bias].
So for genetic, environmental, cultural, pedagogical, and habitual reasons, people are effectively ‘color blind’ to different areas of the conceptual spectrum.
We cannot value each other’s time preferences because of our Time Biases. We are unable to. It is impossible to.
[glossary:Time Bias] is the great unspoken problem with cognitive biases.
Because cognitive biases are largely universal – equal among all people.
But time bias creates social classes, and creates economic classes.
This is one of the reasons that people cannot come to consensus in large numbers.
There is no harmony on means even if there is some harmony on ends.
NOTE: Perhaps I should separate out the different properties of Time Preference (high/low- emotive) from Time Preference Capacity (iq), and Realized or Habituated Time Preference ( the result). I will have to ask David for advice on whose writings to approach other than Banfield’s.