Time prices. In the past I have discussed the difference between absolute poverty and relative poverty.

Absolute poverty is a matter of life and death,

starvation or food, terminal sickness or medical care and so on. The destitute

simply do not have what is necessary to continue living or they are always living on the edge between death and life.

But relative poverty functions on a sliding scale, which is why we don't notice what is happening to us.

There are people today in America who are living, quote un below the poverty line who are in possession of goods that Nebuchinezer would have given up half his kingdom to possess like a 2003 Ford F-150 pickup truck an iPhone iPhone 9, and a mini-fridge first chambers.

We have trouble being grateful for all our blessings because we are blinded but two great

optical illusions. The first is the illusion created by our tendency to compare one generation with another

by juggling multiple currencies and economies and eras. When we think this way, how everybody was actually

doing gets lost in the confusion.

This is a problem that is solved by calculating the basics of life

in time prices, which we'll get to in a moment.

The second is the illusion created by technological innovation. Nothing can be done about this

illusion except to recognize its presence and to render thanks accordingly. So let's consider each

of these in turn. What is a time price? Quote, the ultimate test in measuring stick of wealth is time.

What remains scarce when all else becomes abundant

is our minutes, hours, days, and years.

Time is the only resource that cannot be recycled, stored, duplicated, or recovered.

Money is the most fundamentally tokenized time.

George Gilder, Forward, Tupi and Pooley, Superabundance, page 16. This is as good a place as any to mention that I'm going to be

quoting Gilder from Pouley's book and quoting Pouley's book. I would ask the reader to remember that such things

could happen to anyone.

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