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!
(See full paper here.)
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It can’t buy happiness either. And lets be sure, that the things money can buy (house, car, material things) do not equate to happiness.
But that said, there is a saying in Hindu philosophy that one should not give money or knowledge without being asked … so as not to lower the value in the eyes of the receiver.
If this were followed seriously, then the happiness would double: because you were able to give when asked and you are left with less money (which, by definition, seems to diminish stress).
Time is a precious commodity and it is often the wealthy, who after years of chasing the all mighty buck, who turn to Botox, silicone, hair implants and Human Growth Hormone as they try to recapture their youth. The financially challenged just enjoy whats around them with no regrets. Great Post!
Alex ~D~
Http://theapocalypsepapers.blogspot.com
I wonder if you have read any of the recent articles about Ray Kurzweil who discusses the power of exponential growth in technology. I have seen several presentations and articles about why if you look back in history, these growth patterns are hard to predict because they start off so slowly and take a while to grow, but once they do, its incredibly fast. He suggests that within the next 50 years we will infact have a great deal more time to enjoy.
as my education and experience is process efficiency and quality I’ve always successfully taught:
You can’t “save” time, you can only spent it more wisely.
Personally that means doing whatever it takes to do my job in the hours of 8 AM to 5 PM, and spending the rest of the time enjoying my family and hobbies.
I agree on all points, and am ecstatic that I’m the FIRST POSTER IN THE COMMENTS SECTION.
woot.
This war will be waged until the end of time.
There are, however, other things you can inject into your bloodstream to make you feel better about the whole situation, if you are wealthy enough to afford them.
I wonder why all the part-time jobs are blue collar?
If someone is willing to hire a technical expert for $150000 a year to work 40 hours per week, why won’t anyone hire that same expert for $75000 a year at 20 hours per week?