At 10:44 AM 5/29/02, you wrote: >http://www.cnn.com/2002/TECH/science/05/29/time.money/index.html > >WARWICK, England (CNN) -- A mathematical formula calculated by a British >university professor has found that time actually is money. >According to the equation, the average British minute is worth just over 10 >pence (15 cents) to men and eight pence (12 cents) to women. > > - jmh
A longer blurb in this morning's "CNN QuickNews" update: > TIME IS MONEY, PROFESSOR PROVES A math formula calculated by a UK university professor has found that time actually is money.According to the equation, the average British minute is worth just over 10 pence (20 cents) to men and eight pence (16 cents) to women. The formula is: V=(W((100-t)/100))/C, where V is the value of an hour, W is a person's hourly wage, t is the tax rate and C is the local cost of living. It shows that there is no such thing as a free lunch or even a free dinner, while brushing your teeth for three minutes uses up 30 pence (45 cents) in "lost" time, and washing a car by hand has a hidden cost of �3 ($4.50).Economics professor Ian Walker, of central England's Warwick University, says process can show people just how valuable their time is in relation to any task they have to perform, from a lie-in or cooking a meal to sleeping and working. [same URL given] Observations: The good professor claims that ��brushing your teeth for three minutes uses up 30 pence (45 cents) in "lost" time.� Has he recently priced the direct cost in both time and money, plus the likely lost time from work, not to mention the �cost� in suffering, of a root canal or extractions and dentures? If so, which course of action is indeed the best buy? The last sentence refers to �show[ing] people just how valuable their time is in relation to any task they have to perform, from a lie-in or cooking a meal to sleeping and working.� How about an analysis that compares, for example, the amount and quality of work performed in the end if one knocks off at a reasonable hour, goes and gets a good night's sleep, then comes back rested and refreshed in the morning, versus that performed by a person who stays at the office until nearly midnight, then drags himself in an hour early the next morning, day after day? Which one is really more productive in the long run? -- Ronn! :) God bless America, Land that I love! Stand beside her, and guide her Thru the night with a light from above. From the mountains, to the prairies, To the oceans, white with foam� God bless America! My home, sweet home. -- Irving Berlin (1888-1989)
