Money, Wealth, and Value (Aren't the Same Thing)

  Рет қаралды 911

Good and Basic

Good and Basic

Жыл бұрын

In which JB talks about one of the most useful insights from economics about the meaning of life.
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Пікірлер: 30
@theJellyjoker
@theJellyjoker Жыл бұрын
I value the creation of a thing and the tools used to do so which always put me at odd with my family growing up because they valued the thing and the price of the thing (the higher the price, the grater the value they placed on it). Meanwhile I never valued money and would happily buy the cheaper thing and be happy because I was more concerned with what it did for me and saw money as nothing other than a barrier to entry and an annoyance at best. Again, to my family money was wealth was value.
@riuphane
@riuphane Жыл бұрын
One thing that you glossed over a little is how marketing and presentation affects perception of value. They don't put that many lawn mowers out there because they are going to sell them that quickly; they do it because they want you to _think_ that they are going to sell them that quickly. It's artificial demand stacked with people's competitive nature, tricking them into valuing something they don't actually care about. There are lots of things I value that money can't buy, many of which you and other commenters have mentioned, but I think the question is more interestingly posed as either "if you could buy any material things (money isn't an object), what items would you value?" Or "if it was possible to buy something that money can't buy, what would you want to buy?" To the first variant, I would have to say trips, food, and games. I love seeing new places and taking my family places. I love getting to spend time with my family. I love getting to try and to share really good food. And I love playing games with friends and family. To the second variant, I would say peace of mind. I have many ways to make myself and my family happy, ways to entertain, ways to improve ourselves in different ways, but the thing that always gets in the way of an idyllic life is stress, fear, and frustration. Having the peace of mind that removes these would be invaluable to me.
@chakra4735
@chakra4735 Жыл бұрын
Thanks. Keep the meadowlark singing.
@PadmeP
@PadmeP Жыл бұрын
I value having people to trust. Wealth gets in the way of that.
@taiconan8857
@taiconan8857 Жыл бұрын
It certainly can, but there are those out there who have their priorities straight. Have a little faith. 😉
@RallyX26
@RallyX26 Жыл бұрын
Absolutely fascinating video, so glad to see new content from you. When I look at the wealth I have accumulated and the things that I value, most of it is possibly. Like you, I have a passion for projects and potential - my wealth comes in the form of tools, raw materials, parts components, etc. I like being able to build, create, repair, enhance, and maintain. Lots of food for thought...
@pineberry212
@pineberry212 Жыл бұрын
Well, I want to have a homestead... On an O'Neil cylinder! Btw, sent you an email recently showing a 4-shaft loom I made
@SeeNyuOG
@SeeNyuOG Жыл бұрын
Very good economic intro for noobs like me. Thanks!
@HylanderSB
@HylanderSB Жыл бұрын
I got here from an old HTME video that was a collab with this channel.
@desertgirl9881
@desertgirl9881 5 ай бұрын
I want to be able to help people. Thats what i would use wealth for.
@nates2526
@nates2526 Жыл бұрын
Thanks for another video!
@sagopalm279
@sagopalm279 Жыл бұрын
cant help but think about one of my favorite songs I am a young fellow from the County Tyrone In the town of Strabane shur I'm very well known For down to the alehouse I'm frequently goin' With Kitty and Ginny and Mary My father rebuked me for being such a rake And for spending me money on whiskey and cakes But the lassies are sweet and it's all for their sakes And it keeps me lighthearted and merry I'll eat when I'm hungry, I'll drink when I'm dry I will court all the lassies or at least I will try And I'll never conform 'til the day that I die Agus fagaimid suid mar ata se If I chance for to wander on down to the fair All the lassies all around me do flock on the square I'll pull out me fiddle and play an auld air And soon we're all off on the spree There's Peggy and Jane from the banks of Loch Nee There's Kitty and Molly down Dungannon Way And there's another one from Cookstown who makes me head sway Such a fuss they all make over me I'll eat when I'm hungry, I'll drink when I'm dry I will court all the lassies or at least I will try And I'll never conform 'til the day that I die Agus fagaimid suid mar ata se To quarrel for riches I ne'er was inclined For the greatest of misers must leave them behind So me money I spend with no thought in me mind But to kick up our heels and carrouse For the rich never spend any gold of their own Sure they hold it away like a dog and it's bone But they end on their back among nettles and stones And I hear there're no pockets in shrouds I'll eat when I'm hungry, I'll drink when I'm dry I will court all the lassies or at least I will try And I'll never conform 'til the day that I die Agus fagaimid suid mar ata se Now some say I'm foolish and some say I'm wise For loving the women and the whiskey like wives But the son of King David had ten hundred wives And his wisdom was highly regarded! So I'll call for the lassies and ask them to wed And we'll all be content in the one marriage bed While the rich count their gold we'll count children instead And we'll raise them up true and stout-hearted I'll eat when I'm hungry, I'll drink when I'm dry I will court all the lassies or at least I will try And I'll never conform 'til the day that I die Agus fagaimid suid mar ata se
@johnburr9463
@johnburr9463 Жыл бұрын
I like to explore the world around me and experiment with it. This constitutes play for me. Even when playing a game, I'm not just playing the game, I'm probing the interactions between the rules to better learn how it functions. But it's not so I can build a better game, it's just because doing so is fun for me. In the end, I want to have fun. But life does have requirements and thus such things as food and clothing are necessary. But having more than what is needful in these things seems rather pointless to me. I look at big houses with inefficient floorplans and think, "I would never want to live here." Don't get me wrong, I don't want a so-called "Tiny Home" either. I just want one big enough for my various forms of play and sturdy enough to last until I'm done.
@PKMartin
@PKMartin Жыл бұрын
Value is subjective - one man's trash is another man's treasure, and all that. The thing I value is kind of meta: it's transforming things of low value(trash) into things of higher value (treasure) with only my own ingenuity and effort. The modern word for it is "upcycling", though I think I've been doing it since long before that was coined.
@jamesdoesstuff7173
@jamesdoesstuff7173 Жыл бұрын
i highly value physical strength, that's just the short run though, i want a wife and a bunch of kids, a house big enough to comfortable house many children, some wilderness for them to play in, enough food, clothes, and entertainment for my family, enough money to send them to college or give them an inheritance.
@angelocalderon2582
@angelocalderon2582 Жыл бұрын
First u need clean water for that
@jameter21
@jameter21 Жыл бұрын
Thanks for putting that out there. What do you think of the idea that value is directly connected to some physical process in our mind that creates a sense of contentment or excitement, for example? So we anticipate that having some thing or experience will create that feeling, and we therefore go for it. The thought has a Pavlovian simplicity answering the question of why we want what we want.
@GoodandBasic
@GoodandBasic Жыл бұрын
I actually think it's much deeper than that. The stimulus response/dopamine model works from an evolutionary perspective but it treats humans as a black box. That's not how we perceive value. We demand meaning and transcendence in our lives, and this is not something that empiricism can even investigate. The closest approximation to ethics and value that science can meaningfully discuss is really just anthropology (studying what humans do with relation to their beliefs about value rather than discussing what they ought to value.) It's tricky, but real. JB
@jameter21
@jameter21 Жыл бұрын
@@GoodandBasic Your assumption that we all want meaning and transcendence in our lives is open to question, I think. For instance, what is our reward for finding those things? How do people who have found those things describe them? Is it possible that a more complete understanding of the universe as it exists is our goal as a species? The effect of that understanding would be better ability to predict future events, and maybe mitigate consequences. Weather prediction is a good example of where the scientific method has helped humanity. Thanks for engaging in this subject.
@RyanMercer
@RyanMercer Жыл бұрын
👍
@GoodandBasic
@GoodandBasic Жыл бұрын
👍
@ozb2006
@ozb2006 Жыл бұрын
yes!!!!!!!!!! finally someone explained this right!!!! and this correct explanation can make people understand how stupid and destructive money is!!! people build the world, not money!, money creates greed!, and greed creates people who only care about themselves, saving time, and cutting corners, at the expense of other people, and people and environmental safety and health, lot's of times, it's ok, and even preferred if people get hurt, poisoned, and or limited by something, so the stupid greedy "businessman" of this world can sell us all some more solutions products that don't work very well, so we will have constantly buy more!!! i hate money!!!!!!!!!!!!!!!!, with a passion!!!!!!!! moving off grid soon, renting out a few spots on my land so i can pay tax and internet and car insurance so i'll never have to deal with money again!!!!!
@mamupelu565
@mamupelu565 Жыл бұрын
I want something different every day
@mamupelu565
@mamupelu565 Жыл бұрын
I want something different every day, or I want to be able to want this.
@Montaugh
@Montaugh Жыл бұрын
What do I value... Food, a bed, heat, water some entertainment so I don't go crazy music, books. I'd like someone to share my life with but their is no value in it if they are here for the money and not for me. Just because you have all the money in the world does not mean you will have what you desire. Money, wealth, value they can't buy you happiness, they can't buy you true feelings of love from another person, as that is priceless and without measure. So I suppose the thing I value most is someone that values me as much as I value them and neither money nor wealth enters that equation.
@ralphlucas8244
@ralphlucas8244 Жыл бұрын
I value my 10 acres of land and the building I built upon it. I live in New Hampshire where we have no income or sales tax, but we do have a large property tax. I desire enough money to pay the yearly extortion to keep the government from taking what I value.
@angelocalderon2582
@angelocalderon2582 Жыл бұрын
Why did you get a deed on your name and paid for it??, you should've just built fences around and taken over it
@Lorecastapendragon
@Lorecastapendragon Жыл бұрын
I value survival. comfort and being able to create things I place value in
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