Being in debt means using up the future in the present. Essentially, it’s about how we manage our time. Therefore, the most valuable resource for debtors is time, and it depends on which side time favors. Paying off debt is like repaying borrowed future time early. When the ability to generate wealth over time decreases, the future time becomes a burden, and the debtor faces the pain of bankruptcy. Taking on debt is costly. It may seem like borrowed money is repaid with money, but the irreplaceable resource of time is also returned along with interest. With the rise of postpaid credit cards as a common payment method, we’ve become less sensitive to the associated pain and cost. There are two ways to spend money: using present time or future time. The costs and pain are much higher when the future is spent as if it were the present. - Joseph’s “just my thoughts”
To realize added value , production activities must occur. In other words, added value arises from production activities. Production involves bringing into existence things that did not previously exist in the world. This can be accomplished by combining existing items to create new ones or by processing raw materials into new products . Production includes physical manufacturing , knowledge generation , and service creation . Wealth represents the accumulation of added value. Consequently, to become wealthy, one must be productive . However, value is determined through relative comparison. A product can only be exchanged if it can be priced, and added value can only be actualized by exchanging this product. This process is referred to as commerce . In other words, it is known as a transaction . Through trade , humanity distributes this added value. - Joseph’s “just my thoughts”