“The time we have is the money we don’t have” (Ilia and Petrov). This statement may be humorous to some extent, but it truly comforts the heart: Ultimately, we all have something—at the very least, time. Time cannot be owned, yet everyone possesses it. On the contrary, money, which is easier to own, is something many people lack. In this regard, let us recount what we all have, rather than what most of us possess only a little, or in some cases—not at all.
Talking about time is an endless topic. The mighty Pharaohs of ancient Egypt could not have anticipated that time would transform their impregnable pyramids into some of the most vulnerable places. Similarly, the once modern practice of “telegraphing” has, over the years, become something seemingly obsolete and out of rhythm. The vastness of the story of time lies in its paradoxes. Below are some paradoxes written as far as I can recount.
Paradox 1: The more we develop, the less time we have
Time is a value. Marx once asserted: “All savings ultimately amount to saving time.” To achieve this, humanity has sought to link most of its achievements with the notion of “faster.” However, as everything speeds up, we find ourselves with less time. In large cities, people operate more like programmed robots than living beings. The joy of “savoring a little poetry” has become a luxury that very few residents of Hanoi can afford. Meanwhile, “the richest person must be the one who lives the longest, or the one who experiences life the most.” Unfortunately, we treat our lives like Sun Wukong who fails to enjoy the heavenly peaches. They are precious but slip away without leaving any flavor behind.
Regarding the need for time to live, it’s encouraging that Vietnamese salaried workers now enjoy two days off a week: Saturday and Sunday. This seems to be a wise decision. Firstly, we gain more time to live, to rest, and even to prepare for better work. Furthermore, think about it: although we work a lot, we still aren’t as productive as others; yet when we rest, we seem to be on par with everyone else.
Paradox 2: Some lack time, while others have excess
Reality shows that those with an abundance of time often seem more troubled; “The time we have is the work we lack.” According to statistics from the General Statistics Office, the unemployment rate in our cities is 6.44%, while the regular labor utilization rate in rural areas is 73.86% (data from 2000). These rates are not too dire compared to some countries worldwide. However, it is difficult to quantify the feelings of those who are unemployed, especially new graduates who are eager and well-educated. After obtaining their degrees, many graduates realize that their qualifications are hard to sell in the job market. It appears that the market and educational systems have little interaction with each other.
Moreover, believe it or not, one cause of unemployment in Vietnam is the mindset of young people who aspire to “become officials,” which drives them to pursue education aimed at government positions. Consequently, we may never see Vietnamese versions of Bill Gates (who dared to drop out to pursue business and became one of the richest people on the planet). While the economy needs skilled entrepreneurs, the desire to “become officials” acts as a genuine “roadblock.” With such a legacy, could it be that celebrating business acumen and the ability to create real wealth is one of the most fundamental ways to solve employment issues?
However, the rate of over 26% of labor time in rural areas that goes unused may be a far larger issue. With over 80% of the population residing in rural areas, this is a substantial figure. The peak of unemployment occurs during the agricultural off-season. Millions of farmers spend their days idly at home, uncertain of what to do. The time they have only breeds discontent, a dangerous enemy of population control and family planning programs.
More active farmers flock to major cities, creating spontaneous “labor markets” and a series of social problems. This cheap and non-selective labor force has contributed to resolving many urban issues. However, hundreds of individuals sitting hopelessly on sidewalks and competing for jobs exacerbate concerns related to order, traffic safety, and urban civilization. Every medal has two sides. The phenomenon of surplus labor moving to cities is no exception. However, what is concerning is our slow and incoherent response to this issue. (Many suggest establishing temporary job registration centers or offices. These centers would be places where workers and employers can interact. Simultaneously, they would facilitate the most basic forms of social equity, such as prioritizing those who register first for employment; rental prices should be negotiated but not fall below the minimum wage…).
Surplus labor in rural areas presents a complex problem for our country. However, merely expanding agricultural production may not solve this problem. Given that most agricultural products, such as rice, coffee, shrimp, and fish, require market demand, employment opportunities may not lie primarily in production but in how we sell these products. In this aspect, we would have countless job opportunities from transportation, preservation, processing, wholesale and retail, to consulting, marketing, advertising, branding, pricing, import and export, research, and development… The key is to create opportunities for labor forces and market institutions to form and develop. The mindset of “favoring agriculture, suppressing commerce” and the habit of solely focusing on “boosting production” could lead us into a dead end.
Returning to the issue of unemployment, expanding services to create jobs may not only apply to agriculture but also to the economy in general. In a market economy, economic growth greatly depends on consumer demand. As residents’ incomes have increased, particularly among urban dwellers, their needs have become more diverse and sophisticated. These include desires for delicious food, fashionable clothing, insurance, luxury, style, safety, and enjoyment of music and films, as well as health care and fitness… Not to mention other needs such as haircuts, shampooing, and karaoke. Behind these endless needs lie endless opportunities for wealth creation. Additionally, high-income urban residents are gradually abandoning the habit of doing everything themselves (a habit that suppressed many service sectors during the subsidized economy), from electrical repairs, vehicle maintenance, tailoring clothes to home renovations… If they do not do it themselves, they must purchase services from others. This truly lays an important socio-economic foundation for expanding the service sector to attract surplus labor from rural areas and alter the demographic structure of our country. After all, if eight people farm (80% of farmers) to sell products for two people to consume (20% of urban residents), when will true wealth ever emerge?
Paradox 3: Time has a multidimensional impact
Time both brings and takes away the value of everything. This is an ambiguous law, a truth that lies on the edge of intuition and perception. Essentially, the new often surpasses the old, yet it still falls short of what is very old (ancient). Everything new eventually becomes old. However, not everything old necessarily becomes ancient. What is ancient increases in value over time. Conversely, what is old tends to lose value. The thirty-six streets of Hanoi are ancient (or at least were ancient before being transformed into something old due to arbitrary renovations). All “My dear, Hanoi is beautiful” structures, no matter how newly built, seem hopelessly old. Ancient streets attract tourists, but old streets do not. (Fairly speaking, all types of streets and housing in Hanoi are currently very valuable (though not necessarily valuable in the true sense). Continuous real estate booms have pushed property prices in the capital sky-high. And with each night’s sleep, the country gains new billionaires. Yet, this wealth of individuals, as well as of the entire community, can sometimes be mere soap bubbles, as it does not reflect the true value of the real estate we possess—a mix of “new and ancient,” a chaotic blend of Western and Eastern styles, poorly planned and executed. Such a soap bubble can burst on a fine day and cause unforeseen disasters).
Returning to the ancient streets, the value of these historic areas lies in the time that has settled into their rooftops and moss-covered walls. The renowned painter of Hanoi’s old quarters, Bùi Xuân Phái, once remarked that within the ancient moss lies a “color of time.” Time has also increased the value of his paintings over the years (from being worth just a few hundred grams of coffee or a few packs of cigarettes during the subsidy period to now being considered a fortune). However, time has acted too slowly for him personally. Another way to recognize the impact of time can be seen through fashion trends. Fashion is essentially a reflection of what is in vogue. Being too early can be ridiculous, and being too late can render something outdated. However, being ridiculous or outdated is not an inherent quality of the object itself but merely a state defined by time. A shirt, no matter how fashionable, becomes a simple garment once its time has passed. In a free market, the prices of goods often reflect these states of time. A shirt that is in fashion can be worth many times more than when it has fallen out of style. This entire discrepancy represents the “surplus value of time.”
Today, in many business fields, the ability to accumulate wealth is essentially the ability to perceive time. Time is infinite, and so are its paradoxes. As we welcome Spring and the New Year, I would like to share a few paradoxes for your enjoyment. I will conclude here to avoid taking up more of your time.
Dr. Nguyễn Sĩ Dũng – Saigon Economic Times
