The document discusses the concept of time prices and how they can be used to analyze the cost of goods and services over time when accounting for changes in income levels. It provides examples of calculating time prices for a Thanksgiving dinner in 1986 and 2018 based on unskilled, blue-collar, and upskilling hourly income rates from those years. The time prices, expressed in both hours and minutes per person, decreased substantially from 1986 to 2018 for all income groups due to rising hourly incomes outpacing food price inflation.

2. Economics
The study of how human
beings create value for one
another

3. Simon Project
Abundance
50 Commodities
Time Prices
Price Elasticity of Population
Simon Abundance Index

4. Time Price Framework
Time Price
Percentage Change in Time Prices
Time Price Multiplier
Percentage Change in Time Price Multiplier
Compound Annual Growth Rate
Years to Double

5. Money Price
Dollars and
Cents
Time Price
Hours and
Minutes

6. Time Prices
Money Price
Hourly Income
÷

7. 2010 2019 % Change
Price $75 $60 -20.0%
Hourly
Income
$15 $20 33.3%
Time Price 5 3 -40.0%

8. Percentage Change in
Time Prices
New - Old
÷
Old

9. Percentage Change in
Time Prices
(New ÷ Old) - 1

10. Time Price Multiplier
Time Price base year
÷
Time Price current year

11. Percentage Change in
the Time Price Multiplier
Time Price Multiplier - 1

12. Compound Annual
Growth Rate
= TPM - 1
1
Years

13. Years to Double
70
÷
CAGR

14. http://eptacph2.is3.byuh.edu/TimePrice/index.html

16. https://simonprojecttesting.blogspot.com/2019/06/foundation-50-tables.html
https://simonprojecttesting.blogspot.com/2019/06/foundation-50-charts.html
https://simonprojecttesting.blogspot.com/2019/08/annual-hours-worked-dynamic-2.html
https://simonprojecttesting.blogspot.com/2019/06/line-chart-selectable.html
https://simonprojecttesting.blogspot.com/2019/06/foundation-50-one-page.html

18. 1956
$48.00
2006
$0.18

20. 1970
$100.00
2019
$22.00

21. How many keys?
How many songs?

24. Thanksgiving Dinner Time
Cost for 10 Percent Price
1986 2018 Change Multiplier
Nominal Money Price $28.74 $48.90 70.1%
Hourly Income Rates
Unskilled $5.25 $12.70 142.0%
Blue-Collar $12.90 $32.06 148.5%
Upskilling $5.25 $32.06 510.9%
Time Prices in Hours
Unskilled 5.48 3.85 -29.7%
Blue -Collar 2.23 1.53 -31.5%
Upskilling 5.48 1.53 -72.1%
Time Prices in Minutes per Person
Unskilled 32.9 23.1 -29.7% 1.42
Blue-Collar 13.4 9.2 -31.5% 1.46
Upskilling 32.9 9.2 -72.1% 3.59