Time, like money, is a resource that we can either fritter away bit-by-bit on activities that give us no real return on our investment, or use wisely now in order to reap the benefits in the future. Pushing the economic metaphor further what if, like money, you could invest time so that it grew with interest and displayed compounding-like effects?
A post over at Tim Ferriss’ 4 Hour Work Week describes the possibilities of such a lifestyle economics. And while I think the post brings up some interesting possibilities, it appears to me to be based on the false premise that time can be compounded. It cannot. For each of us time is fixed (we just don’t know how much of it we’ve got). But what is possible is to telescope the amount of time we spend on work-related tasks to free up the (fixed) amount of time we have for other things. Such task-time telescoping allows us to engage in more important/worthy activities thereby increasing the value of that time, however we cannot say that time itself increases or grows as a consequence.
The question then becomes this: Read the rest of this entry »
What was the goal of the Apollo Moon Program? To put a man on the moon and bring him safely back, right? Wrong! Remember this was during the cold war and what the Americans really wanted to demonstrate was that they were superior to those pesky Commies. United States thinktanks examined several options and worked out that the US could probably (with a lot of effort) get a man to the moon and back within a decade, but crucially, they believed the Soviets couldn’t. President Kennedy then announced it to the world, and the rest is History. So putting a man on the moon wasn’t the goal; the goal was to be able to shout out to the world, “Hey, look how much better than the Reds we are!”, and putting a man on the moon was the means by which the Americans achieved it.
What has this got to do with being rich? Well, most of us would admit to having the goal of being wealthy, or at least being wealthier. But, like going to the moon, this is not our real goal but rather a way of achieving something else, which I would guess is to be happy, or obtain some peace of mind. Going to the moon or becoming rich are technically only the means or objectives - particular ways to satisfy goals. Read the rest of this entry »
