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”
Solomon’s wisdom, demonstrated when he ruled by proposing to divide a living infant with a sword in order to reveal the baby’s true mother and a false one, was notable because nothing truly happened when he suggested dividing the infant. The application of wisdom out of context in this scenario renders wisdom tragic. The difference between a wise man and an evil man can often come down to a piece of paper. Had the real mother’s reaction to Solomon’s judgment been ignored and executed immediately, history might have depicted Solomon as the most evil tyrant in the world. We would easily forget the distinction represented by that piece of paper. Wisdom is the intuition that accurately perceives the unseen context in a given situation. - Joseph’s “just my thoughts”