time price

young-woman-cycling-in-the-park-at-sunset-stockpack-adobe-stock
Young woman cycling in the park at sunset
Licensed via Adobe Stock

Things Used to Cost Less but They Were Much More Expensive

We buy things with money, but we pay for them with our time. This means there is a money price, which is expressed in dollars and cents, and a time price, which is expressed in hours and minutes. A time price is simply the money price divided by hourly wages. Take, for example, the bicycle. Read More ›
round-salted-cracker-cookies-in-wooden-bowl-putting-on-linen-and-wooden-background-stockpack-adobe-stock
Round salted cracker cookies in wooden bowl putting on linen and wooden background.
Licensed via Adobe Stock

Ritz Abundance

Joseph (Jake) Klein recently wrote a great article about Ritz Crackers. He notes that they were introduced in 1934 at a price of 19 cents for a one pound box. There are around 8.75 crackers per ounce so a 16-ounce box would yield around 140 of the tasty wafers. Ritz outsold every other cracker their first year on the market. Read More ›
time-and-money-adobe-stock
Licensed via Adobe Stock

Money Is Time and Time Flies

On April 21, 1787, the Congress of the Confederation of the United States authorized a design for an official copper penny, later referred to as the Fugio cent because of its image of the Sun and its light shining down on a sundial with the caption, Fugio. Fugio is Latin for “I flee/fly”, referring to time flying by. Read More ›
stack-of-coins-and-clocks
Stack of money coins with retro alarm clock
Licensed by Adobe Stock

The Good Old Days Were Really Expensive

We buy things with money but pay for them with our time. Money prices are expressed in dollars and cents, while time prices are expressed in hours and minutes. A time price is simply the money price divided by hourly income. Read More ›
Gilder-book-with-legs

George Gilder Joins Bill and Cole Smead Live on A Book with Legs Podcast

From A Book with Legs Podcast: Live from the 2024 Smead Investor Oasis, venture capitalist George Gilder joins Bill and Cole Smead to discuss his latest work, “Life after Capitalism,” in which he redefines capitalism as a knowledge-based system. Gilder presents a vision of the future in which technological advances disrupt traditional capitalist structures, emphasizing innovation and knowledge over wealth accumulation. Listen here:

woman-hand-hold-supermarket-shopping-cart-with-abstract-blur-organic-fresh-fruits-and-vegetable-on-shelves-in-grocery-store-defocused-bokeh-light-background-stockpack-adobe-stock
woman hand hold supermarket shopping cart with abstract blur organic fresh fruits and vegetable on shelves in grocery store defocused bokeh light background
woman hand hold supermarket shopping cart with abstract blur organic fresh fruits and vegetable on shelves in grocery store defocused bokeh light background

Time Pricing Mark Perry’s Chart of the Century

Time prices are a better way to measure standards of living. Read More ›
man-walking-on-campus-or-university-stockpack-adobe-stock
Man walking on campus or university
Man walking on campus or university

TVs Versus Degrees

Government heavily subsidizes demand and restricts supply in higher education. We should not be surprised when this translates into much higher prices. Read More ›
innovative-creative-idea-ai-generative-stockpack-adobe-stock
Innovative & Creative Idea - AI Generative
Innovative & Creative Idea - AI Generative

More Light Innovation

The cost of a 1600 lumen LED lightbulb has recently dropped by 25 percent. The new bulb also offers a great innovation. The problem with LED bulbs is that they come in five different shades. Feit Electric’s new light solves this problem by putting a switch on each bulb that lets you pick your preferred shade level. The energy to use this new lightbulb costs 17 percent more, or around 31 cents a year ($2.11 versus $1.80 based on 3 hours per day at 11 cents per kWh.) The new bulb will give you an hour of great light for less than 0.2 cents. Blue-collar workers are currently earning around $35 an hour in compensation (wages and benefits). One hour Read More ›