Credit Rating and Required Rate of Return: Suppose you and Warren Buffett borrow money from a bank. The bank will assess your credit ratings differently. Maybe the bank could offer Warren Buffett a loan without interest since it can be advertised as a bank used by the renowned investor. However, it will likely charge you interest because you have a lower credit rating and less fame than Warren Buffett. The interest rate each borrower faces, based on their creditworthiness, is called the required rate of return for creditors. Under the same conditions, the cost of poverty is much higher for the poor than for the rich. Poverty inherently involves costs. - Joseph’s “just my thoughts”
In the 2009 Korean film ‘Castaway on the Moon,’ a character states, “Desire makes humans smarter.” This reflects the protagonist’s ingenuity in creating useful tools from discarded items to survive on a deserted island. While knowledge enhances human understanding, it is desire that turns that knowledge into practical applications. Maslow was among the first to focus on this concept of desire in social science research. Understanding and addressing desires essentially means understanding humanity. - Joseph’s “just my thoughts”