The Price of Time
In economic practice, decisions are frequently taken to reduce the time required to produce a given effect even though this entails a certain increase in expenditures. In such cases, the apparent material advantage must be abandoned in favor of the gain in time. On the other hand, it is clear that the ahead-of -schedule fulfillment of production and construction targets, without regard to expenditures, is inexpedient. In a word, economic practice very frequently confronts us with the necessity of choosing between a time gain and material overexpenditures. The same practice also shapes certain - sometimes intuitive - conceptions as to the circumstances and dimensions in which an additional expenditure can be justified by reducing the time required for the realization of a given economic measure. One might ask: is there a scientific basis for making an objective comparison of the time gain with the expenditure of resources (or of material savings against time losses)? In other words, is it possible to compare time in any sense with material and labor inputs?
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 12 (1970)
Issue (Month): 10 (February)
|Contact details of provider:|| Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=106047|
When requesting a correction, please mention this item's handle: RePEc:mes:prectr:v:12:y:1970:i:10:p:3-27. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Nguyen)The email address of this maintainer does not seem to be valid anymore. Please ask Chris Nguyen to update the entry or send us the correct address
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.