My free time is very expensive so I pay a premium for certain contractors/service providers who I believe will not do something that will require me to supervise them heavily or find someone else to fix or redo what they do.Ok, so you aren’t an economist. Got itYou are not implicitly assigning value to time spent watching TV and drinking beer on the couch. The value of such time is $0, because you could do anything even moderately productive and come out ahead of that.
If you don’t think people assign a value to consumption (vacations, clothes, watching tv) then absolutely nothing about the economy would make a lick of sense. Indeed there would be no reason to even trade. There would be no consumer surplus and no human would value a good or service more than the dollars in their pocket.
And in such a world you definitely shouldn’t be investing because there would be absolutely no inkling of a fundamental value to what the companies you are buying are selling
Statistics: Posted by jebmke — Sun Aug 18, 2024 4:55 pm — Replies 63 — Views 3267