An asset is the foundation of all economic activity. If you have assets, you can run a business and settle your debts. The ways to create assets are ‘how one works,’ ‘how to receive gifts from others,’ and ‘how to purchase assets made by others.’ There is a way to steal, but it is a crime. If you don’t initially own an asset, the simplest and almost the only way to create one is to produce something with your own labor. Whether the product is a service or a good, it must be produced unconditionally. Trading products creates added value. Thinking about trading later and making products first is the fastest and most basic way to escape poverty. Therefore, produce even the smallest things every day. Knowledge, records, art—whatever! - Joseph’s “just my thoughts”
Wealth is accumulating the added value created through value exchange into assets. Here are three key concepts. 1. Value Exchange 2. Value Added 3. Assets. To be wealthy is to increase assets. For an asset to grow, it must exchange value with others and, as a result, add value comes from. First of all, value exchange. Even geniuses starve unless they exchange value. Value exchange is not an idea, it is an action. You can never create wealth if your thoughts are good but don't act. - Joseph’s “just my thoughts”