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”
Text and images emerge from thoughts. Although the thought is ‘abstract,’ the text and images are ‘conceived.’ In transforming abstraction into conception, we genuinely realize reason and ultimately awaken knowledge. We cannot comprehend something if we merely see and hear. We don’t write because we know it; rather, we come to know through writing. Design doesn’t originate from good ideas but stems from validating thoughts through ample inspiration. Just as skillful typing doesn’t guarantee good writing, proficiently using drawing software doesn’t ensure good design. - Joseph’s “just my thoughts”