Saturday, March 3, 2012

Time is the only true currency

Economics and mathematic tell you 8\$ is twice 4\$.

But it does not tell you that :
• For the homeless 100\$ is a bliss,
• For the billionaire 100\$ is a rounding error.
But everyone has the same amount of time (more or less). And nobody knows how much is left.
• For the homeless 100\$ is worth one month.
• For the billionaire 100\$ is worth one breath.
But, no matter how you look at it, for both, 5 min remains 5min.

That's why I use economics and mathematic rules on time, and not on money.

33cl or Coca-cola cost 2\$, or for most people, 10 minutes. If you take the habit of drinking 1 bottle per day, your habit cost your approximatly 3 days/year.

If your car cost your 1 week per month, and you decide to sell it, how will you spend this new free week per month ? How will you spend the 2 whole month of free time it gives you per year ?

What about smoking Tobacco ? going to the Restaurant ?

start asking : how much your customer value his money ? (50 000\$ might worth a breath)

A trade is a transfer of time between two entity.

Given this new definition :
A fair trade is not about receiving as much money as the value of time you spent.
A fair trade is about receiving as much time as the other party is giving you.

So when defining the price,
stop asking : how much money is it worth ?
start asking : how much time is it worth ?

(This is a not so new idea, used by the movie Timeout... but this movie is not worth 1H50 -price of ticket + time to see it-)

1. Great post! Thanks.

2. Great post! Thanks.

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