A ‘transaction’ is an act of debt between parties. The seller owes goods to the buyer (performance debt), and the buyer owes money to the seller (monetary debt). A transaction is considered complete when the debt is settled and the promise to owe each other is called a ‘contract.’ Thus, a good trader or businessman excels at making and repaying debts. When it comes to debt, the type of debt matters. Anyone who misjudges this should not engage in business. - 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”