Frey, Gong Ming, Jobs, Medievh here.
The post below is a joint one in that it deals with wealth, business, environment and the human legacy that is in the making.
There’s a term in Korean called “Je-tech” that translates to “Wealth-tech”. People say that the best place to start with investing, esp. if you are non-economics major like me, is to go back to the old macro/micro textbooks used in college. I downloaded and am reading something similar : A book published by the Bank of Korea called ‘The stories of economics written easy’. One of the first terms the book discusses is of course Scarcity and Free Goods that are not defined as scarce. What I read next was pretty striking:
“In the past, air and water were regarded as free goods, but they can no longer be categorized as such. Good quality bottled/purified water fetches the price of a soft drink and has become standard. People use their time and money to actually visit forests so that they can breathe the good air there.”
First, it occurs to me now that our environment should NEVER even be classified as a free good in economic terms and that was fallacy to begin with. The Second, the relative passivity and adaptation hat humans display towards this environmental change. Third, business investment opportunities are going to be in the eco-friendly. It is sad but there is the possibility the eco-friendly environment will change from a formerly free good to a luxury good that fetches a hefty premium.
Let us hope that this future will not come…