Globalization is not a recent phenomenon; it began in the 1870s when international trade and investment expanded to sell mass-produced products worldwide, driven by technologies such as steam engines and electricity. The peak of globalization occurred in 2019, just before the COVID-19 pandemic outbreak. The economy advances primarily through improvements in productivity. The technological advancements mentioned have significantly influenced this productivity growth. For example, a smartphone, which combines the functionality of a computer with that of a mobile device, exemplifies technological progress that has brought convenience to mankind. However, smartphone technology and network effects haven’t contributed to the expected boost in human productivity. Technology can be categorized into those that enhance productivity and those that do not. Although today’s technology development exceeds that of the past, it doesn’t automatically lead to greater productivity. To build wealth, incre...
Most individuals are unaware of the balance between “physical work” and “emotional work” in their roles. “Beginners” are those who are compensated solely for physical work, while “mediums” earn for both physical and emotional contributions. “Masters,” on the other hand, receive higher pay for emotional work compared to physical tasks. Without the ability to assign a price to the value of your emotions, you will inevitably remain at a low added value. - Joseph’s “just my thoughts”