Time moves slower

Time moves slower when you are:

1) in pain

2) looking forward to the future

3) looking too much back into the past

We can’t really control when we are in pain. That’s up to the universe

However, we can control our mindset and not dwell too much on the past or seek too much into the future, neither of which we can truly control

Time will always move regardless if you move with it

Best to live in the moment while you still can

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Acquire

We acquire things justly by acquiriing something without infringing on the liberty of others

We trade labor for money

Money for goods

But when humanity realized that labor was part of the production function of goods, those in power abused the labor of others

Infringing on other people’s liberty produces injustice

To create a just economy, we need to acquire things in the fruits of our own labor

results and hard work

I’ve considered myself a hard worker for a while now

I remember getting up at 4:30 AM to practice two hours of basketball before school started because after school I would have 2-hours of rehearsal for musical theatre and I’d be too tired to play basketball then.

I wanted to balance both basketball and theatre as well as maintain top grades.

At Villanova, I’ve constantly taken a full-credit load because I want to learn as much as possible given the fixed costs of my semester tuition.

But I have not necessarily been seeing the results of my ‘hard work’

Which makes me come to two conclusions:

  1. I am either unlucky / the universe is unfair, or:
  2. I need to work harder

Option 1 I can’t control.

Option 2 I can, which means it’s time to amp it up and keep going. I haven’t burned out yet, I’m just getting started.

equivalent exchange

Is there such a thing as “equivalent exchange”?

Yes, if you trade one $10 bill for another $10 bill, but that doesn’t really accomplish anything

In economics, more trade is better

More trade means more producer and consumer surplus, which contributes to overall economic welfare, which is just economic jargon for “the world is better when we exchange goods”

But we wouldn’t really conduct equivalent exchange every time

No, I buy that carton of milk for $5 because I think that milk is worth MORE than $5. The seller is also willing to make that trade because he believes that milk is worth LESS than $5. They’d rather have the money.

That’s where we get the surplus.

Let’s talk outside of economics now, and into social interactions.

Does equivalent exchange exist?

Does it even matter?

If my friend holds the door open for me, an equivalent exchange would be for me to hold the door open for him the next time.

But when it gets into bigger social transactions, things get much more difficult to pinpoint

If my friend does my a favor and invites me over for thanksgiving.

If I help my friend get a job by prepping him for interviews.

Tutoring friends, giving them a ride to the movie theater or buying them a birthday gift.

I don’t believe in equivalent exchange. I believe that equivalent exchange is meaningless, because why would I trade $10 for $10?

More trade is better. Exchange is good because they are not equivalent. We want to trade to produce more surplus.