Available material indicates that the formal study of procrastination is a relatively recent occurrence. This literature review examines the work of some of the most prominent researchers in this field. This paper will examine the underlying causes of procrastination as delineated by the most current research. In addition, it will explore the hypothesis that procrastination exists on a scale, and that in its most elevated state can have severe, substantial and lasting consequences. Finally, this paper will review some methods for blunting the impact of procrastination, and briefly examine what lies ahead in the study of this condition.