Some readers of Genesis believe that in this passage, Jacob exploited the desperately hungry Esau. Others believe that Esau simply acted in a profoundly imprudent manner. The author of the passage seems to be in the latter camp because he judges Essau to have despised his birthright. If that is the case, this ancient story is but a vivid example of a familiar foible. There is considerable evidence that people generally prefer present benefits over greater future benefits. Economists have a word for this; they call it “imprudence.” That seems fair enough. Some economists have the view that such a preference should be reflected in the value attached to the future costs and benefits of public policy. But when those costs and benefits are enjoyed by other people, the preference for present goods is not imprudence, but a kind of partiality not obviously different from other kinds of pernicious favoritism, such as using public policy to benefit people to whom one feels especially close.