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”
This world is designed to favor the elderly. Gaining experience through trial and error first means that you have a competitive advantage over latecomers. It also occupies an advantageous position in social organization . This is the advantage that arises from being the first to start. However, the statement that 1 plus 1 equals 2 can be understood without any experience; it serves as an analytic proposition that can be known by reason compared to the aforementioned experiential proposition . In other words, in the realm of analytic propositions , the advantage of being older does not hold much weight. The world needs both experiential propositions and analytic propositions, but experience is not always essential. - Joseph’s “just my thoughts”