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In this quote, Rolf Nelson is discussing how wages work as a form of payment for labor or a person’s time. He is saying that when someone is paid wages, they are essentially trading or exchanging a portion of their lifetime or time spent working in exchange for money (their wages).
The “price tag” he refers to is the dollar amount of the wages. This price tag or dollar figure is simply a measurement or quantification of how much of the person’s lifetime or time they are trading in exchange for that amount of money.
So in essence, the quote is saying that wages represent the trading of a person’s time spent working for monetary compensation, and the wages amount itself just represents how much of their time is being purchased.