Consilience. When information is gathered to form knowledge and then used to gain insight through inspiration, it becomes wisdom. The world we live in is now multidimensional and a complex system. You can’t correctly interpret and understand it using only the simple patterns of a limited worldview. After collecting and discarding fragments of information and scattered knowledge, we must reconnect them to discover new patterns. Consilience is the ability to see wisely in a world filled with significant volatility and uncertainty. It’s a world where mistakes are easy to make if we only focus on one side. - Joseph’s “just my thoughts”
Value in Kind (VIK). Refers to the spot value . We pay money to buy the goods we need, which represents an exchange of goods for currency. However, since money is also a kind of good, it has a relative value that constantly changes. That’s the price. When the price of goods rises, it indicates that the value of money in relation to goods declines. This phenomenon is called INFLATION . If other goods exchanged for goods experience a greater value increase than currency, the seller finds it more advantageous to transact using those other goods rather than currency. We prefer to exchange currency in transactions because it is a government-guaranteed compulsory means of exchange . The right to exchange anything constitutes compulsory circulation power . However, this is the only value of money. If the price of gold is rising significantly, and you can exchange gold for goods, it becomes a better option for producers of goods to trade in gold instead of money. Originally, the pre-currency...