Tyler Cowen’s “Stubborn Attachments: A Vision for a Society of Free, Prosperous, and Responsible Individuals” is a well-reasoned moral argument for how we should behave as a civilization. It makes two main points: First, we should take a longer view of things. Right now we place too high a discount rate on the future, when in fact most of humanity is there. This leads to the second conclusion: that almost everything else we attempt to do to help the world is far less effective than just increasing the economic growth rate. My only complaint about the book is that I was left wanting more. I wish Mr. Cowen had gone into more detail, for instance, about individual freedoms vs. economic growth. There are inevitably trade-offs between the two, and he doesn’t delve into how we should make these decisions.
—Mr. McCaleb is a co-founder of the cryptocurrency ventures Ripple and Stellar.