I make it a point not to give smug internet entrepreneur Jakob Lodwick any press (even our local “youth is the future” advocate Will Pate distances himself from this prat), but he does make a good point in a recent blog entry of his:
What if money had instructions on the back? Basic economic facts, wise slogans, etc? I think it would be useful.
In case you’re a little shaky on the first principles of money, here they are:
- In the absence of other factors, more money is better than less money.
- Real money is better than fake money.
- Money now is worth more than the same amount of money later.
- If given a choice, it’s better to spend someone else’s money than your own (thanks to BNK for telling me about this rule).
One particular reason I dislike Lodwick: this video, in which he suggests that the way to keep a company vibrant is to harass the old people so that they leave. Perhaps if he listened to some of these old people, he might already know a little bit more about the instructions for money.
[Jakob Lodwick’s blog entry found via The War on Folly]