Money Chapter 4: Inspiration from Fraser’s View on Wealth

Feisha chose to actively participate in events that he believed were worth doing. Although his wealth had great ups and downs, he was still able to live happily throughout his life. The reason for this is believed to have something to do with Fraser’s personal beliefs. One of the main points of Fisher’s “Interest Theory” is that all income is actually psychological, subjective and internal. As he said in the first chapter of his masterpiece “The Theory of Interest”: “The psychological experience in people’s minds is the real source of their income. The reason why those events in the external world are important purely because of what they can bring to people These are just inner psychological experiences.”

Author: GUDORDI | 2015-02-05

I talked so much about Feisha’s life last time, just to clarify the method this economic master who understood the essence of wealth chose to spend his life. As mentioned earlier, Feisha chose to actively participate in events that he believed were worth doing. Although his wealth had great ups and downs, he was still able to live happily throughout his life.

All income is actually subjective and intrinsic

The reason for this is believed to have something to do with Fraser’s personal beliefs. One of the main points of Fisher’s “Interest Theory” is that all income is actually psychological, subjective and internal. As he said in the first chapter of his masterpiece “The Theory of Interest”: “The psychological experience in people’s minds is the real source of their income. The reason why those events in the external world are important purely because of what they can bring to people It is these events, the psychic experiences of individual mind, which constitute ultimate income for that individual. The outside events have significance for that individual only in so far as they are the means to these inner events. of the mind.) It follows that we value external things purely because they bring about some sense of joy in our inner world. (…real income in general, consist of final physical events in the outer world which give us our inner enjoyments.)

Yes, the psychological experiences in our minds are the real source of our income, and what we should pursue should be those experiences that we deeply believe are important and valuable. The importance of events in the external world may simply lie in their connection with our inner feelings. The important thing is that once we look at the problem from this perspective, we may then ask, how real and solid is the connection mentioned above? We may even go further and ask whether these events in the external world are really so real, and whether their nature cannot be changed objectively, or does it depend to a certain extent on how we see it?

Happiness comes from "knowing how to manage yourself rationally"

These are some very profound questions. In his 2007 graduation speech to Shantou University students, Li Ka-shing, the richest man in China, once said that happiness comes from “knowing how to manage yourself rationally.” If we can think about it carefully, this sentence is very interesting and flavorful, and it also expresses how people should be calm and find themselves in this colorful and dazzling world of phenomena. It’s not something that seems so easy. From a certain perspective, what events in the external world are like are sometimes not so black and white and stable. Many times, the feelings that events in the external world bring to us seem to be very erratic and unstable. How to manage them can actually be a very deep knowledge and art. More importantly, events in the external world may have a certain degree of illusion. Sometimes, what we directly see and feel may be just a kind of confusion, intentionally or unintentionally, and the process of life may also be like a maze. To be able to walk out leisurely is not as simple as it seems. Fisher’s Interest Theory is an academic work, and he did not talk about more abstract matters in it. However, what he said in the first chapter and his behavior throughout his life believe that what we need to pay most attention to should be What we feel deep inside. This is believed to be the first revelation that Fesza brought to future generations on the issue of wealth.

Interest is not part of income, it is all of it

In addition, another important point of Fisher’s theory should be to emphasize the importance of accumulating assets. Fraser’s famous saying is: Everything that can generate income is capital, interest is capital multiplied by the interest rate; and wealth is the converted value of all income. Therefore, interest is not part of income but whole of income. From this point of view, if we want to pursue wealth, we should continue to accumulate assets. The more assets that can bring us income, the more our income will naturally be, and the higher our wealth will be.

The important thing is that if we accept Fisher’s point of view, then we will have another understanding of the meaning of money. Applying Fisher’s theory, what we need to pursue should be real income, and the definition of real income is those things that can bring us spiritual happiness. If the sunshine or the laughter of a child can bring us spiritual happiness, , that is, income, is conceptually no different from what money can buy. If this is the case, the function of money and wealth is just to exchange for something that can bring us psychological income. However, the pure pursuit of money and wealth is likely to ignore the income that can be obtained from other channels, such as love, friendship, Family affection, health, honor, justice, dignity, or simply inner peace and quiet are all examples. In his 2007 graduation speech for Shantou University students, Li Ka-shing mentioned that Einstein had this sentence hanging on the door of his office at Princeton University: “Not everything that can be counted is important, and not everything that is important is important.” “Everything can be calculated.” It can be seen that even the richest people also realize the shortcomings of monetary wealth and the importance of non-monetary wealth. Yes, how to strike a balance between monetary wealth and non-monetary wealth can be a profound knowledge.

Feisha himself does not seem to be very attached to money and wealth. He was once very rich, but in the end he became a negative asset, but he can live happily. Does this mean that he can find his soul from various activities that he invests in? income, so his inner wealth may be generally increasing?

In addition, another implication of Fisher’s theory is that we should pay attention to continuous income and not be eager for quick success, because what we want to increase should be wealth, not temporary income. Fraser cherished his life very much and worked hard all day long to do things he thought were worth doing. He was also committed to doing many things that would have a long-term impact on future generations, such as promoting medical insurance, public health, and world peace. Although these time-consuming and energy-consuming work prevented him from making further academic achievements, he did not hesitate to do so. Perhaps it was because he believed that these things with long-term impact could provide what he believed to be an ongoing process. income, is it therefore the most worthwhile asset to invest in?

In any case, from Fisher’s theory of interest, Gudoudi found an implication that Fisher himself may not have cared about, but that originated from his theory of interest. Here it is: Appreciation may be one of humanity’s most valuable assets. Isn’t it? If our ability to appreciate is high, then there may be many things that can be obtained for no money at all, and we can also get great spiritual happiness from them. In this way, no matter what our circumstances are, our income and wealth are guaranteed. By analogy, events that can bring us good memories should be assets worth investing in.

The author once jokingly said to a former college friend: “If you can live with good memories, you can live at least twice as much happiness in your life.” As happier.) My friend found it quite interesting after hearing this, but he may not know that my so-called insights are actually just borrowed from the Fisher Interest Theory that he also read in college!