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...
The 'Bregenz Festival' opens every summer season in Bregenz, Austria. Although a population of 20,000 this is a small town, 250,000 visitors come here for a month, and the economic effect is perhaps 150 million euros. The site of this festival combines a stunning landscape surrounded by the 3rd largest lake in Europe 'Bodensee' and the Alps with cultural goods such as an opera and exhibitions. The best part is the floating opera stage set up on the lake. The annual opera stage stirs curiosity all over Austria. There are many reasons to go to Bregenz only to see the stage. The opera stage, which changes every year and is built on a beautiful lake, is the only one in the world. Whether it is tourism or business, there must be a reason, "Why come here, or why do business with you." - Joseph's "just my thoughts"