Friday, November 27, 2015

Economy

Economics is about scarcity, property and relationships, but also trade-offs.
"“It is most valuable to think that there are two conversations happening during every monetary — or property — exchange.
“The first conversation is the one I am having with myself; when I give $3 for this fancy cup of coffee I am saying, “I value that coffee more than the $3 in my pocket.”
“The second conversation is the one the café owner is having with himself. He is saying, “I value your $3 more than the coffee I have for sale.”" 
Every transaction proves value is subjective. If value was objective, nobody would trade.

Finally somebody has exposed the fraud of Bill Gates's supposed philanthropy.

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