Commercial Aspect to Virtues – Patience.

There is no way that everything can be understood instantaneously. Processing and understanding takes time. Those who are patient are known for their wisdom – a wisdom that comes from the practice of patience.

The same is true for production. It takes time. The goods and services that people want need to be generated. Those who can envision and nurture the production process patiently over time render a great service.

Everyone can participate in this patience-requiring production process by exercising patience themselves – exhibited in their lives by saving. This saving and investment then converts into the much needed capital used in production processes, which can be seen as the economic equivalent to patience since capital represents goods for the future.

Here we have capital as one example of the ‘tangible goods and services’ emerging from patience. By acquiring and practicing patience, errors from short-sighted decisions will decrease and the savings necessary for economic growth will more likely be available. A ‘premium,’a price, is ascribed to the practice of the virtue, in this case ‘patience.’ In other words, there is a commercial aspect to the virtue. It is a ‘traceable’ market phenomenon.

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Commercial Aspect to Virtues – Excellence.

As an expression of my will to live and love life, I show a particular keenness towards the things that I enjoy. It follows, then, that I will continue to strive for excellence in that pursuit, whatever it is.

Matching the right task with the right person to perform the task is one key to productivity and entrepreneurs are alert to this prospect. If those who are producing a good or service excel at it then everyone in the entire economy benefits, ultimately.

Imagine yourself having to choose between various products of similar prices but you happen to know that one company has a reputation for excellent production standards. This attribute is known as product quality and it is a major factor in decision-making. Of course you, as well as everyone else, will choose the best product.

Here we have product quality as an example of the service emerging from excellence. By acquiring and practicing excellence there will be a more refined division of labor which will translate into greater productivity. A ‘premium,’a price, is ascribed to the practice of the virtue, in this case ‘excellence.’ In other words, there is a commercial aspect to the virtue. It is a ‘traceable’ market phenomenon.

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Commercial Aspect to Virtues – Courtesy.

No one is offended by being treated with courtesy. It inspires greater respect for oneself and, most definitely, greater respect for the courteous person.

Since the market is the embodiment of social cooperation, courtesies become the norm. If it is courteous to be on time that becomes the standard, ‘out of courtesy.’ And each time these courteous practices are applied the social relationships advance to new levels of mutual respect. As a consequence cooperation and coordination improves.

Here we have market cooperation and coordination as an example of the service emerging from courtesy. By acquiring and practicing courtesy work relationships will change and there will be a tremendous increase in productivity since cooperation and coordination will increase. A ‘premium,’ a price, is ascribed to the practice of the virtue, in this case ‘courtesy.’ In other words, there is a commercial aspect to the virtue. It is a ‘traceable’ market phenomenon.

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Is The Bitcoin Money?

The regression theorem of money is applicable to bitcoins since they are priced against currencies that originated out of a commodity money. Bitcoin is a money and if it can maintain its ability to stay invulnerable to the meddling of the State it will have a similar kind of economic impact that money had when it emerged in the market to improve upon barter:the State is that much of a burden of inefficiency (not to mention corruption).

It is an interim money.

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Commercial Aspect to Virtues – Flexibility.

Each of us knows that having flexibility as a part of the order of things makes life much more enjoyable. Flexible order in our lives makes it easier for us to adjust to changes – the inevitable changes that occur in our lives.

Employers who provide an environment that incorporates flexibility will tend to have a ‘happier’ workforce that most likely will translate into a more productive and a more stable workforce. Also, customers appreciate having flexible and various options available to them if a product doesn’t exactly meet their needs.

Flexibility incorporated into the production process – providing more options to employees and customers – leads to higher productivity and customer satisfaction, both of which are good for business. A ‘premium,’ a price, is ascribed to the practice of virtue, in this case ‘flexibility.’ In other words, there is a commercial aspect to the virtue. It is a ‘traceable’ market phenomenon.

 

 

 

 

 

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