To realize added value, production activities must occur. In other words, added value arises from production activities. Production involves bringing into existence things that did not previously exist in the world. This can be accomplished by combining existing items to create new ones or by processing raw materials into new products. Production includes physical manufacturing, knowledge generation, and service creation. Wealth represents the accumulation of added value. Consequently, to become wealthy, one must be productive. However, value is determined through relative comparison. A product can only be exchanged if it can be priced, and added value can only be actualized by exchanging this product. This process is referred to as commerce. In other words, it is known as a transaction. Through trade, humanity distributes this added value. - 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”