It's not necessarily the case that chess isn't productive or worthwhile -- for example, strenuous mental activity of any kind probably helps stave off cognitive decline due to aging -- but suppose that were the case. It would still be true that almost nobody spends all their time doing what they consider "productive" tasks. One question then is whether chess is a poorer use of one's time than other unproductive pursuits like watching TV or doing crosswords or stamp collecting or bird watching or reading novels or reading/posting in forums, etc. I think there's no clear answer there, and it's totally a matter of subjective opinion.
If one really wanted to free up time spent on unproductive activities for more productive activities, then presumably one would eliminate forum reading/posting, TV watching, and many other things before eliminating chess entirely. Maybe some people have already done that and chess is the sole remaining activity that isn't very productive, but I'm guessing most of us have many lower-hanging fruits to attend to first before we're faced with the question of whether chess is the least productive thing we do with our time.
I always have an admiration of chess right from my childhood. Ever since started playing online a few months ago, I developed an avid fascination- almost akin to a fan’s wide-eyed wonder for Chess; I used to read the history of world chess championships and biography of chess greats.
Accidentally I saw a chess quote by George Bernard Shaw in the web.
Here it is:
"Chess ... a foolish expedient for making idle people believe they are doing something very clever when they are only wasting their time."
This quote shattered my faith in chess. I started asking myself whether Chess is really a waste of time?
What is your opinion about this quote?
There've been many studies of how playing chess improves cognitive function, grades, and at the very least focusing power in many people. Besides who can really say what a waste of time is? George Bernard Shaw was a freaking playwright. I have absolutely no interest in plays and can say in return he wasted his life away making up stories that were a waste of time.
In reality you don't waste your time when you improve yourself in some way (in my opinion). So improving your mental and chess abilities isn't a waste of your time, and writing plays and improving his creative abilities wasn't a waste of Shaw's time. Really though you might be a little too open minded, stick to your beliefs and passions more strongly ;).