Capitalistic thinking is not about domination by capital; it refers to financial thinking. The economy revolves around exchange. The performance of the counterparty corresponding to what I want to exchange is called ‘consideration,’ and a ‘transaction’ is the accumulation of added value by exchanging equal considerations. However, among transactions, this consideration is not relative but absolute; trading solely in one fiat currency as consideration is termed 'finance.’ When I obtain a loan, the bank lends me fiat currency (the bank’s consideration), but my obligation is to return the fiat principal plus the contracted interest. The consideration in this transaction is unidirectional, involving only one fiat currency. In contrast, when I buy shoes, the seller has an obligation to hand over the shoes to me, and I have a counterpart obligation to pay in fiat currency. Once these two considerations are exchanged, an industrial transaction occurs. However, as noted earlier, in financi...
"Metacognition" refers to thinking about a thought. It is the ability to rethink one's thoughts. So if you are good at metacognition, you can objectify your thoughts. In the "Dunning-Kruger Effect," we can confirm the importance of metacognition. The two scientists proved that the more incompetent people were, the less they perceived their incompetence. Conversely, competent people recognized what they didn't know and were confident about the state of what they did know. All improvement begins with identifying what I don't know.
- Joseph’s “just my thoughts”
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