3 ms·
I’m sure we’d all vastly prefer to be the person who works an hour for $100 and has the rest as free time. If those two people have equal “richness” then the te
by mikeash 8y ago
I’m sure we’d all vastly prefer to be the person who works an hour for $100 and has the rest as free time. If those two people have equal “richness” then the term is not very useful.
- paulddraper 8y agoIf you're suggesting that wealth/income is different than quality of life, I would have to very strongly agree.
- mikeash 8y agoI’m going a bit further and suggesting that free time ought to be incorporated into “wealth” somehow. After all, time is money.
- paulddraper 8y agoThe great depression had a lot of people with a lot of time. "Rich with time", you might say.
- mikeash 8y agoThat’s why I want to incorporate free time into “wealth,” not replace it altogether.
- greesil 8y agoWhen basic necessities are met ( infrastructure, health, sanitation, education, food, housing, security) there are diminishing returns for an individual to work harder. I'd also add that per capita is a bad measure because of the skewed income distribution. Median is a better metric here.