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”
There are two kinds of knowledge in the world. The knowledge I can explain, and understand I know but cannot explain. To explain it to others, you must see the essence of that knowledge. The knowledge that others cannot understand means that the person describing it does not know its nature. So the secretary becomes wise. - Joseph’s “just my thoughts”