[P]reference is a choice. Demonstrated time preference (useful for the economic concept of interest but not scientific in that it’s causally descriptive) appears to be largely genetic, and is determined by what we consider the ‘frustration budget’:our ability to suppress the urge for gratification.
So the terms, Impulsivity, frustration budget (tolerance), and time preference represent three portions of the impulsivity spectrum. Where the lower our impulsivity, the higher our tolerance for frustration, and the greater our willingness to persist a desire for a long term goal, each represent our social classes.
As such to discuss time preference outside of the impulsively scale is to attribute to choice that which is no more available to choice than rational thought is to the solipsist, empathy is to the autistic, or operational calculation using abstract rules of deduction is to the imbecile.
The language of libertinism is rife with upper middle class economic loading and framing: attributing to choice that which is not, in order to perpetuate the fallacy that liberty is a rational preference and choice, rather than the reproductive strategy of an elite minority and the social outcasts that follow them in hopes of status seeking. Instead, science: empiricism, instrumentalism, operationalism and performative truth attempts to explain all phenomenon in least loaded and framed (if not least obscurant) terms.
It is for this reason that the language of science is the language of the spoken and written truth, and rationalism must always be suspect, because the majority of outright lies, pseudo-rationalism and pseudoscience have been told in rational language.
So while rationalists say that something is possible or may be possible, science merely demonstrates that rationalism is de facto the optimum means of lying invented by man.
And the 20th century as Hayek proposed, was merely the high point of cosmopolitan pseudoscience, precisely because those with lesser abilities relied upon rationalism rather than science. And they did so because it was profitable to lie: see various quotes by and about Marx and Keynes.
Praxeology can be repaired: by restating it as operationalism and testimonial truth. Mises merely failed in his attempt. Because he relied upon rationalism rather than science. And very likely, as did popper, and the rest of the cosmopolitans, because it allowed him to justify preconceptions rather than to discover uncomfortable truths: that the cosmopolitan way of life was systemically immoral, and that western universalism cannot be use as an attempt to preserve separatism.