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Punctuality Pays: The Economic Cost of Lateness

Posted by TimSlavin at April 13, 2004

"According to one study, chronic lateness costs Ecuador $2.5 billion a year—hardly small change in a country with a gross domestic product of just twenty-four billion dollars. The fundamental challenge for a modern economy is to coördinate the actions of millions of independent people so that goods may be produced and services delivered as efficiently as possible. It’s a lot easier to do this when people are where they’re supposed to be when they’re supposed to be there. This is especially true in light of recent innovations such as just-in-time manufacturing."

From The New Yorker. I had to hack the URL since this item is more than a week old but it is worth a read.

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