To realize added value, production activities must occur. In other words, added value arises from production activities. Production involves bringing into existence things that did not previously exist in the world. This can be accomplished by combining existing items to create new ones or by processing raw materials into new products. Production includes physical manufacturing, knowledge generation, and service creation. Wealth represents the accumulation of added value. Consequently, to become wealthy, one must be productive. However, value is determined through relative comparison. A product can only be exchanged if it can be priced, and added value can only be actualized by exchanging this product. This process is referred to as commerce. In other words, it is known as a transaction. Through trade, humanity distributes this added value. - Joseph’s “just my thoughts”
Rather than building more houses to catch skyrocketing real estate prices, investing in transportation infrastructure is more effective. An office worker unable to afford London’s murderous rent moved to Barcelona, Spain, to live in a three-room house. He commuted to low-cost airline Ryanair for about £ 300 less than commuting from London (as of 2017: £ 580 house rent + £ 778 transportation fee = £ 1,358). The transportation environment changes our lives. Thoughts can’t keep up with the change. - Joseph’s “just my thoughts”