
Time: We are all born with an unknown amount of “time-wealth” that we trade for other forms of wealth. It’s strange to consider making “purchases” with an asset that one has little idea of how much they actually have to spend. One can only hope that there is more! Timing: This is where the true value of the time spent and the amount of time left to spend can be assessed. Leaving a building, just before the earthquake levels it, is of greater value than planning to leave it an hour later! In this case, the timing determines the amount of time left to spend. Similarly, timing of harvesting determines the outcome of the wine, especially when conditions become extreme.