The relativity of values causes us to use money irrationally. I go to the supermarket to buy a $15 pen, and the clerk smiles and says, “You can buy this pen for $7 if you walk 5 minutes from here.” Then, most people walk five minutes and buy a $15 pen for $7. But if you want to buy a $1,000 jacket and the clerk smiles and says, “You can get a $992 jacket in five minutes from here,” most people simply buy the $1,000 jacket. Reasonably, walking for 5 minutes equals the effort, and the profit of $8 is the same. However, people might go to a store that sells pens cheaper, but not for the jacket, because the discount rate is too low. In other words, the relativity of comparing values makes us act irrationally. The pen’s discount rate is 55%, and the jacket’s is only 0.8%. Yet, the total amount is the same for all $8, and the effort to gain that profit is identical. Attitudes and misconceptions about consumption influence how we build wealth. - Joseph’s “just my thoughts”
Eco-friendly products can sometimes be anti-ecological . Environment and ecology are distinct concepts, but both have a significant impact on human life. Many confuse the two, believing that if something is eco-friendly, it is beyond criticism. This creates the illusion that if a product is good for the environment, it will also be beneficial for the ecosystem . For instance, reducing disposable items can lead to increased detergent use , which may contribute to water pollution . The reality is that what is considered eco-friendly may not be suitable for ecology, and what is ecology-friendly may not necessarily be eco-friendly. - Joseph’s “just my thoughts”