Money and Morals: Mencius is regarded as a saint who spoke only of righteousness, but he mentioned a lot of economic issues. Among them, it has been said that humans must have a steady livelihood so their righteousness can also be maintained. According to Mencius, it’s hard to follow human morals without a certain income. To be wealthy, you must have a small, but regular income, which is better than an irregular one. In business, the ‘bottom (seed capital)’ is very important. You need a foundation to start a business. No matter how much capital-less startups are, the fact is that the founders’ labor costs are being consumed. In other words, this means there is a bottom, and nothing is free. Creating a consistent income in life cannot be overstated. If you are struggling due to financial hardship, make sure to have a steady income, even if it’s small. That small, steady income makes the future predictable, turning uncertainty into certainty. Businesses and investments are profitable whe...
Profits and Rewards: While profit and reward may seem similar at first glance, they are distinct concepts. Profit is more practical than reward and has a genetic basis. Reward, in contrast, offers comprehensive benefits and is aligned with life. For example, if a company promises to give stock options to its employees, that is a reward; however, if the stock option is officially recorded by a resolution of the shareholders’ general meeting, that is a profit. Profit reflects the realization of rewards. Our genes seek profit more than rewards. Nevertheless, rewards also help sustain life. An example illustrating the difference between profit and reward is seen in loss. Gambling and drugs may offer us emotional rewards, but they also show how we can experience diminishing returns by wasting our resources. Profits and rewards are clearly different. Many people confuse the two, which can harm relationships. - Joseph’s “just my thoughts”