There are two primary approaches to creating something: bottom-up design and top-down design . Top-down design is often seen in architecture. People do not build bricks randomly; instead, they follow the design drawings created by the architect. This method executes a plan that has already been established. When asked why something is built in a certain way, the answer is usually that the blueprint dictates its design. Conversely, bottom-up design does not start with a fixed goal, but rather involves setting and implementing small, actionable rules. For example, termite nests follow this approach. Small termites have a simple rule: to pile up soil. They do this without knowing the reason, but over time, the finished structure is remarkable and sophisticated. The appearance of the Sagrada Familia church , designed by Antoni Gaudà and still under construction, closely resembles a termite nest, differing only in size. Setting goals and planning is one way to create, but actual achievem...
In a market economy , ‘ price ’ is determined by supply and demand . Producers supply and consumers demand, and the compromise between them is price. However, the price determined by supply and demand is not always beneficial to both producers and consumers. The price formed in the market is distorted by various factors, and the imbalance that occurs at these times results in a loss for some and a benefit for others. Wealth transfer occurs when there is an imbalance in the price of a good or service. Price imbalance necessitates an understanding of the essence of the market that forms between supply and demand, and it is a fundamental virtue for entrepreneurs to develop an ability to recognize bubbles and undervaluation of value . - Joseph’s “just my thoughts”