Time Is Money

Photo: I. Rimanoczy We have all heard it -- and said it ourselves, or thought of it at different moments in our life. Time is money. While it sounds like a post-modern capitalistic axiom, the quote actually originates with Benjamin Franklin who articulated this idea in Advice to a Young Tradesman, Written by an Old One, a handbook printed in 1748. "Remember that Money is of a prolific generating Nature. Money can beget Money, and its Offspring can beget more, and so on", Franklin observed, in his early musings about the power and potential of money. He advocated for saving, hard work, paying debts on time. "The Way to Wealth, if you desire it [...] depends chiefly on two Words, INDUSTRY and FRUGALITY; i.e. Waste neither Time nor Money, but make the best Use of both. He that gets all he can honestly, and saves all he gets (necessary Expences excepted) will certainly become RICH." We certainly distilled the message and, particularly over the past decades, filtered it. We created an economic model where if we worked hard and didn't wasted time, we could become rich, because "work brings money and money begets money, and its offspring can beget more." By doing so, we could ignore the more demanding aspects of the formula, such as saving, paying debts in time, and frugality. We didn't need them, and we could have more exciting lives creating an economic model based on consuming, producing and consuming even more on credit. With money and more money for some. In what ways is ...
Source: Healthy Living - The Huffington Post - Category: Consumer Health News Source Type: news