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 Old Testament, the book of Exodus, verse 8:9, depicts a scene where God promises Moses that Israel will escape from Egypt and be led to Canaan, the Promised Land. This is described as “a land where the rocks are iron and you can dig copper out of the hills.” This event took place during the Bronze Age civilization, but God mentions the resources that exist in the Promised Land, highlighting the transition from the Bronze Age to the Iron Age. Indeed, after migrating to Canaan, Israel established a copper mine to extract copper. The advancements in civilization and technology during this period hold significant historical importance for humanity. We are currently living in one of those transformative times. - Joseph’s “just my thoughts”