> The poorer you are, the less your time costs

Personal time is a highly constrained resource: finite, non-renewable, non-storable and mutually exclusive. You can’t simply value someone’s personal time based upon their paid time. (Though people love to do this anyways…as if a poor person’s life time is objectively worth less than a richer person’s.)

Poor people often have less time available, less supply, than others due to longer transportation times as well as having more chores that they must complete by themselves.

For example, a person can be making $15 / hour and only have 4 hours of available waking personal time per day. If during those 4 hours they must complete all personal and household chores, as well as find some time for recuperating, then they would likely value those 4 hours as much more than $15 each.

Or considered another way: the value of the first hour in a day is not worth the same as the last hour. That last hour is valued according to the tasks that must be accomplished during that time and what is lost if the tasks are not successfully accomplished. And when under stress, the value can change drastically.