A while ago, economists Sara Solnick and David Hemenway conducted a survey where they asked participants if they would rather earn $50,000 a year while other people made $25,000, or earn $100,000 a year while other people got $250,000.
Alex Green
Sit down for this one.
The majority of folks selected the first option. They would rather make twice as much as others – even if that meant earning half as much as they could have.
This is completely nuts, of course. Yet other findings in the study confirmed the envious nature of contemporary culture.
https://libertythroughwealth.com/2019/06/07/beyond-wealth-dont-be-tempted-vice/
Human Folly
Mankind has a habit of dividing itself in “us vs. them” tribes…
— Bill Bonner
Whether it was on a prehistoric African Savannah or in modern America, the instinct is the same.
But who’s “us”? And who’s “them”?
It’s hard to say… and probably not worth trying.
The instinct that worked so well in the private space of a small tribe is a catastrophe in the large, public space. It cuts off trade. It leads to wars, persecutions, and genocides.”
People weave a web of meaning, believe in it with all their hearts, but sooner or later the web unravels, and when we look back we cannot understand how anybody could have taken it seriously
— Yuval Noah Harari
That’s how history unfolds. People weave a web of meaning, believe in it with all their heart, but sooner or later the web unravels, and when we look back we cannot understand how anybody could have taken it seriously.”
Google Earth, Bike Tires, & Solar-Based Charger – Crazy Adventure
Imagine you had to walk across the Rub’ al Khali – the “Empty Quarter” – of the Arabian Peninsula. This 250,000-square-mile desert is the largest sand desert in the world. Sand dunes there reach as high as 800 feet. It rains less than two inches a year. The surface temperatures reach 125 degrees. Think about the three most important pieces of equipment you’d need, beyond the most basic stuff like shoes, clothes, food, water, etc.
This isn’t hypothetical. Three guys decided to try and walk across this desert completely unassisted. In 2013, South Africans Dave Joyce, Marco Broccardo, and Alex Harris became the first humans to walk completely unassisted through the Empty Quarter. They plotted a 1,000-kilometer course from Salalah, Oman to Dubai. Their story is completely nuts… but fascinating.
The most obvious piece of advanced equipment you’d need? A GPS, right? Nope. What they needed most wasn’t a GPS… or even a map. What they had to have to make it across 1,000 kilometers of desert in 40 days (after which they would have quickly starved to death) was Google Earth. They needed to know their precise position in the desert relative to the giant sand dunes, which you can only see using Google Earth’s satellite photos. Before the advent of publicly available satellite photos, walking across this desert would have been impossible. GPS alone wouldn’t have been enough.
They also needed a strong, lightweight, easy-to-pull cart, so they could carry enough water for the journey. Obviously, they needed food, too. But the water was far more critical and heavy to carry. They spent about three years testing various designs for carrying enough water. The key to success was using mountain bike tires on their cart, rather than wide full tires, which were too difficult to pull through the sand.
And finally… to make sure they had continuous access to Google Earth, they needed to use a solar-based charger to power up a satellite phone. They lost the charger on the 10th day of the trip. So one of them had to turn around and follow their tracks for 25 kilometers to find the charger before it got dark. Without it, they probably would have died. Imagine trying to find that charger… before dark… in the desert… by yourself… knowing that if you couldn’t find it, you and your friends would probably die.” – Stansberry Research
After buying a farm, would a rational owner next order his real estate agent to start selling off pieces of it whenever a neighboring property was sold at a lower price? Or would you sell your house to whatever bidder was available at 9:31 on some morning merely because at 9:30 a similar house sold for less than it would have brought on the previous day?
— The Essays of Warren Buffett p. 103
After buying a farm, would a rational owner next order his real estate agent to start selling off pieces of it whenever a neighboring property was sold at a lower price? Or would you sell your house to whatever bidder was available at 9:31 on some morning merely because at 9:30 a similar house sold for less than it would have brought on the previous day?”
