Sarah Kallie is a Manhattan executive who is so busy at her job that she does not have time to do her laundry, visit her parents, or clean the cats sand box. She eats out six nights a week and gets her groceries delivered to her doorstep. But she recently spent nearly 10 hours battling her mobile phone company because they charged her 9 in late fees.
Is it possible that it was worth her time? This is a question that economists have been [31](1. denying 2. tackling 3. formulating) for some time. Economists have spent decades using time value formulas to help companies maximize productivity. Now, researchers and governments are looking at how those concepts apply to the household in many advanced countries. In the present day economy of [32] (1. convenience 2. waste 3. scale, time can be purchased. Everything from bags of prewashed salad to dog walking services is now available for people who are starved for time. Economic studies of time use aim to answer the global question: How do we measure whether we can afford a babysitter, a gardener, or other services, [33] (1. better 2.worse 3. rather) than doing them ourselves?
Some economics professors regard a household as a small company that employs labor, buys technology, and makes decisions about what services to outsource. But the household is a “company” that nowadays needs [34] (1. welfare 2. management 3. tax) consultants. People often make drastic miscalculations about the [35](1. value 2. pace 3. amount) of their time, and take a do-it-yourself approach to tasks that might be less costly in time and money if they were hired out. A simple oil change for your car, for example, costs the equivalent of ＄25 at some gasoline stations, [36] ( 1. or 2. if 3. while) buying the supplies to do it yourself costs at least 20, meaning it is cost-efficient to let the gasoline station do it for you. Yet millions of people say that they change the oil in their cars themselves.
It the past, economists looked [37](1. liberally 2. unwillingly. strictly) at your income in order to calculate the value of your leisure hours. Now, the study of the “household economy” is getting fresh encouragement. It is even beginning to take into account intangible factors such as satisfaction and pleasure. Many governments have conducted surveys on the use of time within the household, in an effort to provide reliable data. Some use a monthly survey, [38](1. if 2. where 3. which) they ask people to report how much time they spend doing such things as exercising or driving their kids to various places. A large number of academic essays on this topic are also circulating. Some of them address issues such as the impact of timesaving technology, including microwave ovens and washing machines. This kind of scholarship is gaining new relevance now that lower household budgets are [39] (1. forcing 2. requesting 3. helping) some people to work longer hours, which emphasizes the importance of the cost-effective use of free time.
Some economists say that one of the most common miscalculations in households is “outsourcing” child care, in order to free both parents to [40](1. contribute 2. attribute. conform) to the household income. Many parents stay in the labor force because they enjoy their jobs, but others stay because they think that they cannot [41](1. prefer 2. begin 3. afford) to quit. Yet sometimes a mathematical calculation proves otherwise. One example was found in a couple who earned a combined income of 120,000 per year. They looked at what the mothers job was actually costing” the household. Child care was costing 15,000 per year, and because their combined income was [42](1. estimated 2. high 3. Realized), they were losing another 12,000 in taxes. They also calculated the “work-related costs,” such as car parking at the office, dry cleaning, and restaurant meals because they ate out frequently. Finally, they determined that if the mother quit her job, they would not lose too much money.
But economists recognize that for many families, you must adjust these calculations using what they call “psychological variables.” Some divide household [43](1. expenditures 2. management 3. activities) into two categories: “consumption,” which should be something you enjoy, and “production,” which is anything that feels like work. If you love gardening, it is consumption, but if you hate gardening, it is production and you will be more [44](1. reluctant 2. inclined 3. able) to hire someone else to do it. As one economist says, “it’s not just about the money.” That was how Sarah Kallie [45] (1. justified 2. uncovered 3. undermined) her long battle with the telephone company. It was worth it for the satisfaction, says Ms. Kalliney.
A more traditional economic approach measured the value of leisure time based on one’s hourly wage, and it was made famous by the American economist Gary Becker in 1965. The idea was that any time that went toward leisure could be reinvested in work. 7 But income based formulas have [46](1. negligible 2. contrasting. obvious) limitations. For instance, many people on a fixed salary do not have the choice of getting extra pay if they work overtime. In addition, some people’s work is keeping house, which usually does not [47](1. come 2. advance 3. decrease) with a salary. Yet in figuring out how to maximize your time, salary is a logical starting point. Economists suggest that you begin by calculating what an hour of your time is worth, based on your salary. Using that figure, you can then compare the cost of doing a task yourself versus outsourcing it. If you do it yourself, you have to add the price of materials or supplies. If you hire someone else, of course, you have to calculate the time it takes to find and manage that person. Then you are [48](1. ready 2. opposed 3. ineligible) to tackle the other half of the calculation. This looks at the nonfinancial costs and benefits. Among the factors to consider are how much you enjoy doing the job yourself, and what you are willing to give up in order to do it.
Many do-it-yourself veterans are grappling with these same issues. We tried two tasks: one, filling in our tax forms by ourselves versus hiring a tax accountant; two, buying a jar of pre-chopped garlic versus buying a garlic press device and doing it ourselves. The tax accountant finished his work only two minutes faster than we did ourselves when we used a software program, if we include the time it took to travel to his office. However, employing him cost $100 more. Buying the jar of garlic saved us 22 minutes of chopping and slicing by ourselves, making it worthwhile, but the garlic in the jar does not taste as good as fresh garlic. We then hired a professional to organize our desk. She did half of it, but [49](1. charged 2. paid 3. saved) nearly $100 per hour, during which we had to stay with her to help her understand the piles of papers, making it not worthwhile.
One financial consultant, who earns over %150 per hour at his job, tried holding a garage sale at his home to earn extra money. It took many hours of planning and standing outside in the summer sun, at the [50] (1. location 2. end 3. duration) of which he had earned only $4. He says that he will never try this again.
コメントを残す