The general conern that time is money is surely true – and all of our times’ is limited.
But having read a very long but sometimes interesting, article on Modern Monetary Theory and how the Job Guarantee is less effective than than a Universal Basic Income, I conclude that we have not ever properly considered time.
I was attracted by the article as I – very broadly – agree with the sentiment…
Still, I suggest that if the object of the economy is, at base, to assist us all in pursuing a life that is better with the current economy, rather than one without it, then getting people to spend their time, as, for example, our current unemployment benefit insists, to devote every waking moment of their time in order to find a job, is hardly promoting any economic benefit – particularly when David Graeber’s Bullshit Jobs clearly suggests that these jobs can sometimes be actually for no discernible purpose.
In fact, surely time is one of the most mis-spent values in our economy.
Time is of course, yet another abstract noun, and straightforwardly the essence of time is our limited human life.
Why should the state be obliging us to spend our time doing things they sanction?
Clearly they should when we all agree that all our time is valuable and together we can combine to improve our general benefit.
But obligatory continual job application?
That, surely, has zero general economic benefit.
(Even if eventually, it might benefit the applicant.)
Regrettably, for many, much of our time is engaged in financial survival, which when a basic income could provide for everyday life then that obvious ‘economic waste’ would no longer be required.
How on earth is Unemployment Benefit that is conditional on job applications benefitting the economy?
We need to get the economic actual purpose in gear, I suggest.
Money gets stuff done for sure – and government creates it for that purpose.
But the further requirement for our human created economy is surely the time to look after and raise children, which, in the end, is the very purpose of humanity.
We have an economy which now seems, given the cost of child care, to discourage it.
We need an economy that gives us time to do things that are for us and for the benefit of us all.
That is if, in the end, the economy is properly to work, for general, societal future benefit.
In short we need an economy that, if it is to work properly for the benefit of everyone, is one that actually respects time – and actually, our time.
But that is also time on this earth.
It could help if people understood money creation, which is of course the way that government gets things get done.
But in the end, that would be in order, in fact, to have a time-limited chance to improve the economy that is all of ours….
Still, even when time is money, money is a human invention.
The time that is running out is not….