Quotation Fellner, Wolfgang. 2017. The Value of Time: Its Commodification and a Reconceptualization. Eidos. A Journal for Philosophy of Culture 2, 37-53.




The discourse about commodification of time indicates that under the current socio-economic regime important values get systematically ignored. This paper reviews literature about the value of time in classical political economy, neoclassical economics, the household production approach, household economics, and activity models. Starting with neoclassical economics, all these approaches are largely in accordance with utilitarian methodology. Utilitarian methodology turns out to be incapable of explaining the value of time. The debate about “quality work” allows us to identify the following intrinsic values: power, playfulness, a sense of meaning, and a sense of belonging. These intrinsic values match with the “five sources of motivation” in contemporary psychological research, which confirms the empirical relevance and irreducibility of these values for understanding behavior. We propose a definition of commodification of time and illustrate some of the potential effects of commodification of time.


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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Eidos. A Journal for Philosophy of Culture
Language English
Title The Value of Time: Its Commodification and a Reconceptualization
Volume 2
Year 2017
Page from 37
Page to 53
Reviewed? Y
URL http://eidos.uw.edu.pl/the-value-of-time-its-commodification-and-a-reconceptualization/
DOI http://dx.doi.org/10.26319/2914


Fellner, Wolfgang (Former researcher)
Institute for Multi-Level Governance and Development IN (Details)
Research areas (ÖSTAT Classification 'Statistik Austria')
5325 Political economics (Details)
5335 Political economic theory (Details)
5368 Sustainable development, sustainable economics (Details)
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