Thanks for the link! Btw, in any chromium-based browser you can append #:~:text= to a link with three keywords and it'll jump to that part of the page and highlight the words, the same way Google results do. I find it useful.
I wonder if your time value description can (perhaps more simply?) be described as consumption time versus investment time, similar to the C/I distinction in economics.
For consumption time, it's not really that your time is valued at zero: it's investment value is valued at zero. You can be inefficient, you can be indolent - the point is merely to maximize utility. Investment (return, the lure of "infinite value") really has nothing to do with it.
For investment time however, the point is _not_ to maximize utility: it's to maximize return (wealth) which can be used to maximize future utility. That's why this time can be valued at infinity because the sky is the limit (in theory) for the returns on our time. Efficiency and leverage therefore matter here (by increasing the return).
All this is to say that I'm not sure they're really two ends of the same value continuum, but rather two distinct (and arguably incommensurate) goals entirely.
Re: building material supply shocks, lumber price (roughly 10% of the cost of a new home) is up over 100% in the last year: https://www.cnbc.com/2021/02/10/lumber-prices-skyrocket-pushing-up-housing-costs.html
"Person hired as an Internet analyst, who turned out to be too talented to lay off after the crash."
*kiss fingers like Italian chef*
Thanks for the link! Btw, in any chromium-based browser you can append #:~:text= to a link with three keywords and it'll jump to that part of the page and highlight the words, the same way Google results do. I find it useful.
I wonder if your time value description can (perhaps more simply?) be described as consumption time versus investment time, similar to the C/I distinction in economics.
For consumption time, it's not really that your time is valued at zero: it's investment value is valued at zero. You can be inefficient, you can be indolent - the point is merely to maximize utility. Investment (return, the lure of "infinite value") really has nothing to do with it.
For investment time however, the point is _not_ to maximize utility: it's to maximize return (wealth) which can be used to maximize future utility. That's why this time can be valued at infinity because the sky is the limit (in theory) for the returns on our time. Efficiency and leverage therefore matter here (by increasing the return).
All this is to say that I'm not sure they're really two ends of the same value continuum, but rather two distinct (and arguably incommensurate) goals entirely.