Time Preference. It is a phenomenon where the more distant a result is from the present, the more rational decisions seem, while closer results tend to lead to more emotional choices. When thinking about the distant future, we usually approach it rationally. However, when making decisions right now, we often act emotionally instead of rationally. This time preference significantly impacts areas such as finances, health, work, sleep, procrastination, and texting. For example, dieting is hard when delicious food is right in front of you; people often say it starts tomorrow, not today, because weight loss doesn’t happen overnight but over weeks or months. - Joseph’s “just my thoughts”
Value is created through production and consumption, while added value emerges from exchange. An exchange is, in economic terms, a transaction and, in legal terms, a contract. Wealth is created when value-added accumulates. As a result of the coronavirus, humans are entering a period of quarantine. During this time, goats and deer are running in London's residential yards, and the Himalayan Mountains are invisible due to dust pollution in India. It is undeniable that human activity has had an absolute impact on nature. Your interactions and activities have significantly impacted the world, even if you didn't realize it. If you want to get rich, you have to stay active. You need to interact with the world anyway. - Joseph’s “just my thoughts”