Nominal Value is the price assigned to an item, such as a book priced at $15.50. Real Value is the adjusted price, considering factors like inflation and depreciation, so the used price of the book reflects this Real Value. Intrinsic Value refers to the worth of the book’s content, which can far exceed its Nominal or Real Value depending on the reader’s ability to understand and apply it. Merchants profit from the gap between Nominal and Real Values, while wise individuals gain by recognizing and utilizing Intrinsic Value. Recognizing and leveraging these values is essential for building wealth. - Joseph’s “just my thoughts”
A big supermarket can do business in the suburbs because of wheels. If someone asked me what is one of the greatest inventions in human history that civilization has ever developed, I would say "wheels." The automobile is also a wheel. Shopping carts are also wheels. Without wheels, how many people would go far and carry heavy loads? Mass distribution is possible because of wheels. To do bulk sales, you have to have a lot of inventory. That means you need a lot of storage space. It also means you need cheap real estate. The trivial circle, the wheel, is the key to solving all these constraints in one shot. - Joseph’s “just my thoughts”