Meditations and Learnings

Meditations and Learnings

Exchange Creates Value

Voluntary exchange can, alone, create value because both parties can benefit. Keeping resources and people the same, the simple act of moving resources between people can increase value - it is magic. Here are some examples: - Alan received two copies of God of War for Christmas, and Burton received two copies of Horizon. By trading one copy of each, they are both far happier. - Jeb has an offer for a free subscription to The Spectator but is a far leftist. George was gifted a subscription to The Guardian, but he leans more libertarian. They’ve created value if they get over their differences and exchange subscriptions. - Pat has a lot of love to give and needs some of her own. Terry is in the same situation. We’ve increased the pool of happiness with a brief introduction and a subsequent exchange of devotion.