Time is money. Time is currency. Jobs are exchange counters. Working a pay by the hour job, you get paid for your time as if your time is a product. How much you get paid per hour is a reflection of your personal time's value. The less you get paid, the less your personal time is worth. Your time can easily be replaced with someone else's time.
Time is material. When the latest super gadget comes out, people with money but better things to do pay people with time to be bought to stand in line for them. The people with money want the super gadget but are not willing to spend their own time waiting for it. Their time is too precious to be spent waiting in line all night.
On page 113, this example was given, "members of subordinated racial groups are literally made to wait for goods and services that are delivered first to members of the dominant group." The subordinated racial groups have to wait for goods and services because they don't have the money to exchange for time.
Since workers are being paid for the use of their time, the value of consumer goods suffers. No matter the quality, the workers are paid the same. They aren't paid for what they are producing, they are only paid for their time.
1 comment:
EM: Really? So the personal time of a migrant day laborer with three children is worth less that the personal time of a single, childless doctor?
Some of the points here are really strong, but, your analogy of waiting in line is perhaps less apt. How many people can afford to wait in line regardless of the good or service being produced? :EE
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