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Barkley, 
 
You are right that Irving Fisher first formalized the neoclassical model involving time
preference and capital productivity, but (as he acknowledged in his dedication of The Rate
of Interest to John Rae and Eugen Boehm-Bawerk) he
derived all the raw materials from previous authors, including time preference, which Rae
in his New Principles on the Subject of Political Economy of 1834 had called the
"effective desire of accumulation". Rae even went a little beyond Fisher by claiming that
time preference is in part determined by altruistic feelings toward future generations,
which he called the "social and benevolent affections".
 
Andrea Maneschi 
 
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