Time deflation

Time ain’t what it used to be.

More things take place in the world in one of your minutes than in one of your grandmother’s hours. That’s the phenomenon I describe in this brief excerpt from the opening presentation at the International Conference on eLearning in the Workplace two weeks ago in New York.

At least with monetary inflation, you can look up what a dollar was worth at a given time in the past. We don’t have a similar scale for evaluating the value of time, and I think we need one.

After all, when more and more progress can be jammed into a minute of time, isn’t that minute worth more? How much more valuable are current minutes than past minutes?

Financiers are quite exacting in measuring the future value of money. The dollar you give me tomorrow is worth a lot more than the dollar you give me five years from now. I discount the value of the future dollar by the interest I might otherwise have earned and the likely theft of value by inflation.

Of course, while units of currency are losing value, units of time are gaining value. Maybe I should goof off now and make up for it in the future. Do I need to place a premium on future time?

By the way, the video comes by way of Learn-It-Live, the latest platform for creating and delivering video courses via the web. The ICELW event was their debut.