LogicWarrior Demand Reason


Money Is Time

"Time is Money" was first popularized by Benjamin Franklin [citation needed] and I've heard this countless times through my business education.  I am disappointed by our willingness to recognize that the opposite, "money is time", is also true and can help one lead a fulfilled life.  On a mathematical level, "is" translates to equivalence meaning it should go both ways; one would consider it foolish to say that "2+2=4" but "4≠2+2".  While I recognize that there are maths where associativity does not work, I think Peano arithmatic is the norm for most.  Let's explore.
Hidden Assumptions: "Time is money" implicitly focuses on the finiteness of the former but no only that, on some set finiteness.  There is an assumption seemingly that regardless of what we do, we will expire on a particular date, no matter how the time between then and now is filled which short reflection makes seem foolish.  If I spend some quantity of time each day improving my cardiovascular system I'll probably extend my life.  To take the argument to absurdity, one doesn't "waste time" when seeing a surgeon to have a ruptured appendix removed; one certainly gains it.  The time we have is finite but not specifically set and treating life as a candle burning at a constant speed ignores both science and reason in favor of some clockwork inhumanity.
The exact conversion assumes the perpetual ability to transform which is far from the case.  I can't convert the spare time I have when I can't sleep easily into money in the same way I can convert additional time during the day into wages nor is the exchange constant.  Money is fungible in a way that time isn't but really misses the point.  An equivalence that would get more to the point for me would be "money is satisfaction" or "time is enjoyment" which form dissociated statements that draw on another set of equivalences.
The Reverse:  "Pay for convenience" seems to be the closest implicit recognition to "money is time" as one pays for prepared foods or to have a 3rd party do chores.  The actions are obvious and pervasive but never seem to register as what they are, paying to get back time.  So, I think it's reasonably well proven that the equivalence worth boths ways or that at least there is an exchange with the heavy caveat that the two are not perfectly interchangeable.  So how do we run with this?
Valuing Time: In 2002, a British professor calculated the cost of "doing things yourself" and while the numbers have probably changed, I think the concept is valid.  Try pricing our your free time.  I value an hour to myself at about $12.  I came to this conclusion when I stopped judging Magic events that paid about $9 an hour and realized that the difference wasn't quite made up in enjoyment when I included the cost of little annoyances like dealing with panhandlers and a short lunch break.  Your number will be different, but once you have it, see where it takes you.
Another technique I used was trade on specialization.  I've recently taken to doing computer work for people in exchange for help with Scouting events and other tasks.  I've had a long-term project of updating the maps of Ockanickon, but I clocked this as taking at least 20 hours to do.  A Scout friend offered to do it if I repaired some computers he had so he could do the task.  Cleaning and debugging took about 4 hours and he's nearly finished the project for which I consider myself proximally responsible.  I take care of my housemate's photo collection in exchange for him cleaning the gutters.  Time can be traded both ways.
Valuing Money: When trying to figure out if something's worth it, include the whole cost.  I thought it was a good deal having Midas do my oil changes as they could do in an hour what it took me two, but I realized that I wasn't gaining back nearly as much time as I wished once I considered the time I lost often waiting.  I thought eating out saved time to use as a social endeavor but by just having guests present for food preparation, I feel I regained that time and saved part of the cost of the third party preparation.
Conclusion: Time is not an end in the same way money is not an end.  Both are resources consumed to deliver value and in different cases each will deliver more return than the other in a given case.  Awareness of this is another tool in the arsenal of realizing our values.

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