Credit Rating and Required Rate of Return: Suppose you and Warren Buffett borrow money from a bank. The bank will assess your credit ratings differently. Maybe the bank could offer Warren Buffett a loan without interest since it can be advertised as a bank used by the renowned investor. However, it will likely charge you interest because you have a lower credit rating and less fame than Warren Buffett. The interest rate each borrower faces, based on their creditworthiness, is called the required rate of return for creditors. Under the same conditions, the cost of poverty is much higher for the poor than for the rich. Poverty inherently involves costs. - Joseph’s “just my thoughts”
In the Genesis of the Bible, there is a scene where Adam sees and names all creations. Naming is a social act. By giving something a name, we can specify and refer to it, allowing us to treat it as an object of praise or criticism in society. This is why popularity rises; its popularity becomes power, while criticism can lead to rejection. Suppose no names are assigned to the objects in the world. Human sociality would revert to a primitive state the moment names disappear. A name is not just a title; it embodies your existence. - Joseph’s “just my thoughts”