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Showing posts with the label consideration

Just my thoughts #0670

Joy and resentment are emotions, but they carry energy. That energy greatly influences my life. The lesson adults teach about not making enemies is based on their own experience of that influence. When we go to court, we often see many people there because they harbor resentment, whether in civil or criminal cases. That demonstrates the power and impact of resentment. Ignoring emotions will eventually have consequences. Don’t make enemies; instead, always choose to share joy. - Joseph’s “just my thoughts”

Just my thoughts #0587

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 f...

Just my thoughts #0130

In his book, “Thinking, Fast and Slow,” the Nobel Prize winner in economics, Daniel Kahneman, said that humans have two systems of thinking. These two thinking systems were called “system 1” and “system 2”. “System 1” is an intuitive and emotional thinking system that operates unconsciously and immediately. “System 2” is rational and is determined by careful consideration. “System 1” is advantageous for survival in a crisis and works immediately, so operating costs are less than “System 2”. When humans make decisions, they decide 95% with “System 1” and 5% with “System 2”. Humans decide by emotion, but by reason, they must revenge those foolish emotions. - Joseph’s “just my thoughts”