Economy of Values

Economic man is the term used by classical economists to describe a person who is actuated solely by material interests. Finance includes all of the many ways of borrowing and exchanging money. We are all in this together. Business is all those activities involved in providing the goods and services needed or desired by the people. The business world affects the lives of every citizen.

In the very much early ages, man led a nomadic life, hunting for food and squatting at any places when the dusk is toning the sky. At that time, man was naked. The primitive man. Here is a original video edited by Miri, "The most primitive tribe of the planet. The Toulambi." See more at


Those days, man is simple. Man just needed food and man did not even bother about shelter or clothing, the 3 basic needs of man in the 20th century, but then food, shelter and clothing have become only a smaller portion (or and becoming smaller) of the present days basic needs. Man present needs has broadened to include telecommunication (cell phones, and ipads are now common needs), motorised transportation (motorcycles, and cars are now common needs), and so forth. The primitive man preserved the values of love and protection for his tribe although there was evidence of cannibalism.

Man soon gained knowledge through experiences and quickly turned to agriculture activities and significantly reduced the hunting activities. Hunting activities has become a hobby. Ancient China was busy with traditional scholarship, India with philosophy and metaphysics, ancient Greek zoomed into creative arts and Rome exercised its military might, when the agriculture revolution revealed that land is a resource. No longer labelled as savagery or barbarism, the revolution transformed many to specialize in arts, crafts, empires, religion, and the like, and making for the exchange of goods and services. The Spice Trade has attracted many great explorer to as far as Asia and even to unknown ancient Melaka. Some of these explorers are Vasco da Gama, Christopher Columbus and Zheng He. Such trades and trade routes has become great history and is now regarded as a heritage. Beside love and protection for his own troupe, man has developed values during these time, like honour, integrity, respect, filial piety, loyalty, kindness and righteousness when the world started to get smaller. With these values, the economy of the world rally to new heights. Today, these values, traditions and customs brought down by the ancient empires and dynasties  are rich cultural heritage.

When supply was unable to meet demand, man quickly learned how to use fuel as power to increase the supplies during the boom and the Industrial Revolution meant more knowledge is applied. Education become  important. But education was not widespread because of its shortcomings. Confucius's teachings has taught generation after generation not only in China but throughout the world. Another great educator is Laozi. With knowledge, starting with walking, man is cruising the seas, the highways and the space above. Industrialisation made man believed machine is a need. A better machine is the product of a better knowledge. Thus, a Knowledge Society began. Knowledge Worker is coined. Knowledge reap profits and knowledge become more expensive each day. When knowledge become expensive, Capital is needed to finance a project. The costs is passed to Land and Machine. From hunting, civilization is improving with land, machine and capital. Drucker has wrote a book on "The Post-Capitalist Society". Man believed that values are keys to a strong society and knowledge is vital to upkeep these values.

With Labour, knowledge has transformed workers as skilled labour or a human resource to produce productive utilisation and efficiency of Land, Machine and Capital. The utilisation and efficiency is a continuous timeline for the developing countries. Philosophically, the concept of One World has been set but knowledge as divided the world into the first world countries, second and third.

Somehow, sometimes, values is forgotten along the rat races, and economies has failed and recovered. And costs escalated. Luckily, technology has helped to remind rat races' "athletics" of any things-to-do-today including a world of references not discarding values on their palms. They have 5S, ISO, TS and what not ? These "athletics" have got the latest gadgets at their dispense compared to ancient explorers and navigators who had none. The IT revolution is taking man to blue oceans.


by Daniel. Sunday 26 February 2012
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