Episode 549 - The Experience Dividend: Why Money is Time

Despite Ben Franklin's witticism, time is not money. In economic reality, money is time. That's because we buy things with money, but we pay for them with time. In this episode of The Soul of Enterprise, Ed and Ron explore how consumers, firms, and even the Federal Reserve are starting to measure value not in dollars, but in time well spent. Drawing on a May 2025 article in the White Hutchinson Leisure eNewsletter, and the 1997 Federal Reserve Bank of Dallas report Time Well Spent: The Declining Real Cost of Living in America, the conversation covers: Why experience-based businesses have been flourishing since Joe Pine and James Gilmore identified the Experience Economy How to think about "valueflation" The profound economic insight that goods are getting cheaper, freeing up more time to enjoy life, and spend on experiences and transformations Whether you're an accountant, entrepreneur, or simply a lover of liberty and leisure, this episode will challenge how you think about time, productivity, and pricing.