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05/30/2002 05:28 AM ID: 21995 Permalink   

How Much Will Reading This Cost You? (Around 36c for a Woman and 45c for a Man)

 

Time is money and the equation V=(W((100-t)/100))/C where: "V is the value of an hour, W is a person's hourly wage, t is the tax rate and C is the local cost of living" proves it says Ian Walker, Professor of Economics at Warwick University, England.

It can work out the cost of everyday mundane tasks as well as whether your overtime pay is worth doing the overtime for. If wages equal how much we're worth at work by using the above formula we can also work out how much our leisure time is worth to us

So if the average working man's minute is worth 12p/15 cents and the women's is 8p/12 cents then just to brush your teeth costs you 30p/45 cents for a man and 24p/36 cents for a woman when you figure out the value of the time you lost in that 3 mins.

 
  Source: www.cnn.com  
    WebReporter: juleslady Show Calling Card      
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