An inquiry into the household economy

The value of the time which people devote to each activity of their lives is compared with the money they spend on the activity. After tax wage rates are used to value an individual's time. The enormous size of the household economy and the fact that for most activities the value of the consumer's time devoted to an activity exceeds the money expenditures on the activity, suggest that there are many opportunities for productivity improvements in the household economy which have been overlooked in most traditional thinking on productivity