In terms of value, the first inclination may be to assign a monetary value to time. It seems relatively simple especially in an era of hourly wages and salaries. An employer pays an employee $X/hour. But where does that value come from? It is most definitely not an arbitrary, randomly assigned value. The value of time depends on what is accomplished or could be accomplished in any unit of time. In terms of wages, the amount depends on the skill-level of the task, or what can be done in an hour. Looking beyond the monetary value of time, there are many other factors that can influence how an individual values time.
According to Phillip Zimbardo, there are six time zones in which individuals live: Past-positive, past-negative, present-Hedonistic, present-fated, future-planners, and future-afterlife. Each of these “time zones” affects how an individual would value time. People who live in the past time zone find value in reminiscing and relaxing. They are polar opposites of the future driven individuals whom find value in structure and constantly working for future success. Between those two fall the present-oriented individuals. They often find value in pleasure or living in the moment; however, some are “fated” in which they are indifferent towards what happens to them, thus value can be determined by nearly anything.
Because there are so many concepts and opinions regarding time, communicating its value or characteristics becomes very easily distorted. How would most Americans feel if they were told there is no past, present, or future? Hugh Mellor, an English philosopher, concludes that ‘past, present, and future’ are human devices used to communicate time but are not actual characteristics of time; they only show the relation between people and an event. Time can only be described as earlier or later. Time just got messy
In addition to how time is communicated, there are vast differences in how quickly time passes according to various cultures. Robert Levine studied the pace of life by observing how quickly individuals walked or completed tasks in public. America was ranked as having one of the highest paces of life; however, with an increased pace of life, time often loses its value because, in the words of Dave Milam, “The present only serves as a means to reach the future.”
References:
Podcast by Hugh Mellor on Time
RSA Animate video of Phillip Zimbardo, “The Secret Powers of Time.”