Has anyone else viewed money as literally equaling the sum of yours and others’ time? via /r/Money


Has anyone else viewed money as literally equaling the sum of yours and others’ time?

You know the old saw "time equals money", right? Well the commutative property of math then would say that money also equals time. If A=B, then B=A, right? So considering this, think about how we are paid for work. When we go to work we're trading our time, 8 hours or more, usually, for wages (the assumption also is that your rate of pay is determined by how easily you can be replaced, but that's irrelevant). We then swap those wages for housing, food, health care, etc., which is provided by hosts of wage earners doing the same as you on a national and global scale. Some have so much money they can never spend it, which means they've accumulated vast amounts of others' time. Am I being naive in my old age? Is this obvious to others? I sit and think about the distribution of wealth in this and other countries in the context of money = time and how hard so many people have to work so hard to make do….

Submitted July 29, 2016 at 05:26PM by forcryeye
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J.R. Randall

J.R. Randall is an economist who resides in the Bay Area. He focuses his interest on range of economic topics. He has interest in deep sea fishing and art.