One of the key principles of money is ‘opportunity cost.’ It means that when I buy something, I have to give up something else in return. We think we buy because we need something, but we often forget that we could buy something else instead. We rarely consider ‘opportunity cost’ when making a purchase. We do not compare other values against our needs. Buying something means giving up something else, but we often don’t realize it. When we spend money, we should also consider the ‘opportunity cost’; yet, in reality, we aren’t trained to do so. By making a purchase, we bypass the value comparison that may not offer any additional benefits. Maybe it’s because we lack knowledge, or perhaps the idea isn’t appealing. - Joseph’s “just my thoughts”
In the Genesis of the Bible, there is a scene where Adam sees and names all creations. Naming is a social act. By giving something a name, we can specify and refer to it, allowing us to treat it as an object of praise or criticism in society. This is why popularity rises; its popularity becomes power, while criticism can lead to rejection. Suppose no names are assigned to the objects in the world. Human sociality would revert to a primitive state the moment names disappear. A name is not just a title; it embodies your existence. - Joseph’s “just my thoughts”