Money can’t buy time

Money Cant Buy Time – Freakonomics – Opinion – New York Times Blog

“The average human being will be substantially richer in 50 years, just as the average American today has a real income three times what it was in 1955. But the average human being will not have much more time in 50 years than today; and life expectancy has increased by only 10 percent in the U.S. since 1955, so for most people time has become relatively scarce compared to money.

Not surprisingly, we feel more stressed for time than ever before — the opportunity cost of time has risen compared to the opportunity cost of goods. In fact, people with higher incomes usually express more time stress than those with lower incomes.

It’s not only that higher-income people typically work more hours per week; even those who don’t work at all express greater feelings of being rushed than do poorer people. The reason is that it takes time to spend money and consume goods — you can’t inject a vacation in Provence into your bloodstream — you have to go there, lie on the beach at St. Tropez, go to the Picasso museum in Antibes, and tour the perfume factories of Grasse.

So the next time you hear a wealthy person complaining about having no time, tell him/her that there’s a simple alternative — give away money. Of course, a person who does that will then complain that his/her income is insufficient. Time or money: one or the other is always relatively scarce and always generates complaints!”

How right !When I come back from my office I usually find clusters of slum residents stretching their limbs in absolutely delicious leisureliness ,unthinkable in a rich man. They do not seem to be strapped for time at all.They have all the time in the world.The women dry their hair in the sun and pick lice from their children’s hair. The men sit in groups playing cards and the old men exchange gossip.What do they care if the nation is going down in terms of GDP or the inflation rate is touching 12% once again ? Come to think of it ,they have survived beautifully whatever might have been the inflation rates all these days .

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