The Conventional Views Critique

The Conventional views below are reviewed on another perspective:

1. Money Cannot Buy Time

How true this is? You can try asking this to anyone, the answer will be "Of course! Money cannot buy Time!"
First, we have to define the word 'time'. Time in this aspect should be futher breakdown as past time or present/future time.

Scenario:

Imagine we have the travel from location A to B. We have two alternative modes of transport: Taxi and Bus.
Both setting off at the same time from point A to B with other factors remain the same. Which mode of transport will fetch you there first?

The answer is Taxi. However, it comes with a price as it's more costly than taking a bus.

Financial Figures:

Cost of Taking A Bus: $1.00

Cost of Taking A Cab: $6.70

Differential: $6.70 - $1.00 = $5.70

Time Differential: 45 mins - 15 mins = 30mins

Cost per minute (differential) = $5.70/30 minutes = $0.19 per minute.

Cost per minute per person if 4(Max) persons takes a taxi = $6.70/ 4 / 15 minutes = $0.11 or approx. 11 cents per minute.

Cost per minute per person if 4 (Same as Taxi) persons takes a bus: $1.00 X 4 / 45 mins = $0.088 or approx 8.88 cents per minute

Differential: 11 cents - 8 cents = 3 cents per minute!


Interpretation:

A. We pay $5.70 more to gain future time of 30 extra minutes.

Therefore, "Money Cannot Buy Time" theory cannot hold. In a more precise definition should be as "Money Cannot Buy Past Time but Can Buy Present/Future Time.