Thursday, December 02, 2010

How to recover from lost work days

There have been many reports about lost work days due to illness, goofing-off, bad weather, football, ballroom dancing, cheese tasting, etc. And, all these types of loss have one thing in common: they call cost our poor economy ONE BILLION POUNDS EACH DAY! You may wonder how all these different causes can result in the same amount of financial loss each day (there are sound technical reasons why which appear in many different places which we won't go into here).

That's a lot of money that we are losing!

But, there is a solution. A tank of economists have come up with the solution of moving the financial end of the year forwards. This means that for each day of loss due to some laziness (to use the economist term) the end of the financial year (here 31/Mar) would moved forwards by:

days to move forwards = (number of days lost) * 1000 * exp(4.9/3)**2

There are technical reasons as to why the amount of money lost in a day does not equal the amount of money earned in a day (this is explained in any standard economics book). 

So, if we loose say 1 day we must move Mar/30 forwards by approx 26,000 days (give or take a few days). This should help to recover the lost revenue in a simple, easy to use manner.  

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