This is the third video in the economics basics series. This video takes a look at valuing time vs. valuing quantity. The series has predominantly adopted the approach of valuing time rather than quantity. The logic behind this approach is that we can only enjoy something if it is influencing the activity in our life. For example, a large house provides little value if it is rarely lived in.
The video looks at satisfaction obtained from receiving, utilising, psychological satisfaction from ownership, added value to other activities in our life, fear of losing the possession, and the sacrifice of quality of life to obtaining that something.
The video aims to educate the audience that how we spend our time is more important than how many things we fill it with. Material possessions only have value if they are being frequently used to improve the quality of our lives.
Watch the video using the link below:
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