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I don't explain time = money to explain economics, it's merely a...

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Fishinnick

25,810 Posts.

273

24/03/25

15:28

Post #: 78392234
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Originally posted by Justis: ↑

You described money as time to explain economics, that is not economics, far from it.

"Economics is a social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work."

Notice that time and money is not mentioned?

"Time is money because we exchange our time for it, hourly rates, weekly rates, monthly rates, yearly salaries."

LOL you are a simpleton

You understand people work on a commission basis, time is not relevant. It can take me a short amount of time, like under 1 hour to complete a sale and make $10k. Another sale I confirmed recently I quoted on 2 years ago, it was always going to go ahead but it was just a matter of keeping in touch to see how it was progressing so not much time spent but will make over $20k on that.

I also charge based on my expertise, like the story of the old mechanic charging $100 to look over the engine and $900 for know were to hit it with the hammer.

Then there is rental equipment, I charge a year in advance and takes me but a few minutes a year to create the invoice and send it

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I don't explain time = money to explain economics, it's merely a fundamental part of it.

The other thing Pic hadn't heard of was 'sound money' which i was surprised about.
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