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”
Regardless of your earnings, spending is inevitable. Therefore, spending holds more significance than merely earning, and wealthy individuals emphasize teaching their children how to allocate money toward education. This highlights that human emotions and desires are central to economic theories. Spending can be categorized into two main types: “consumption” and “investment.” “Consumption” refers to expenditures on necessities or perishable goods, whereas “investment” involves acquiring assets aimed at production. Without grasping these distinctions, money spent may be seen as a “waste.” - Joseph’s “just my thoughts”