Here’s regular Las Vegas Review-Journal columnist and occasional libertarian Vin Suprynowicz, in a recent column against so-called
Political Correctness in American Universities:
Internationally renowned Austrian economics professor Hans-Hermann Hoppe used a standard textbook example of investment time preferences in a classroom lecture at the University of Nevada, Las Vegas, a few years back, pointing out that gay couples often invest with shorter time horizons[*] because they are less likely to have children to profit from investments that mature after they’re gone.
Actually, what happened is that, in a lecture on time-preference in economics, Hoppe listed homosexuals alongside small children, muggers, murderers, rapists, and democratically-elected politicians, as an example of a group of people whose supposedly high time-preferences supposedly led to destructive or antisocial behavior.
Suprynowicz describes this as
a standard textbook example of investment time preference. That’s a claim that makes me curious. Is it really? Can anyone name at least one college economics textbook in common use that cites homosexuals as an example of a group characterized by high time-preferences?
* Actually, the lecture had nothing especially to do with
investing in the conventional sense of the word. Hoppe’s examples of actions driven by high time-preference included consumption of snack foods, muggings, rape, and tax increases. On the whole sorry, stupid affair see Jason Kuznicki (2005-02-12): Last Words on Hoppe and GT 2005-02-08: Hoppe and Churchill: On the Justice of Strange Bedfellows.