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TagPrices (today vs 1980s)

coins hour glass
Golden coins and hourglass clock. Return on investment, deposit, growth of income and savings, time is money concept.

Economics As If Time, Not Money, Drives the Bus

Business prof Gale Pooley told COSM 2021 that the information society has vastly increased the goods that our time will buy by increasing and automating knowledge

Brigham Young University business prof Gale Pooley figures that not only does time drive the bus but economics is much easier to understand if we take that fact seriously. That was one key point in his wide-ranging talk at COSM 2021 yesterday, “Knowledge vs. Doom.” As we all struggle with inflation, it’s worth looking at the money we earn simply from the perspective of how much of our time was spent earning it: “Money is time” essentially means that we buy things with money but we really pay for them with our time. Instead of dollars and cents, we can use hours and minutes to price things. We can use “time prices.” As he told the audience, Yale University economist Read More ›