Key Thoughts I

“Their purpose is to teach people wisdom and discipline, 
to help them understand the insights of the wise. Their purpose is to teach people to live disciplined and successful lives, to help them do what is right, just, and fair” Prov.1:2-3

There are four key concepts in economics that are pivotal and reveal the human nature. They show us how we make choices and how to relate to the people in our lives. Why? It is because our relationships determine our height. How we relate with the people in our lives determines how far we go. I will explain these four key concepts in economics with an illustration.

Imagine you have two job offers, one offers five million per annum and the other offers fifty million per annum. All things being equal, which would you choose? I know a lot of us will take the job that offers fifty million per annum. From time immemorial, all things being equal, people prefer plenty to scarcity. The first concept states: People prefer more to less. It is not bad to prefer more to less. Everybody even the spiritual people, almost without thinking, choose more over less.

So you have taken the offer for fifty million per annum, and you are presented with the option of getting paid at the beginning of the year or at the end of the year. Which would you choose? The third concept states that: People prefer sooner to later. It is not a bad thing. That is just how we are wired. You want to get married – now! You want a break through – now! You want money – now! You want everything – now! Imagine this fifty million is available for two positions within that same organization. One position requires that you work hard from six o’clock in the morning till about nine o’clock at night. While the other position is less stressful, you can resume at nine o’clock in the morning and close at four o’clock in the afternoon. Which would you choose? The third concept states that: Everyone chooses the easy job over the difficult one.

Now both positions are in different departments. One department is responsible for generating seventy percent of the organizations revenue so their cash flow reserve is amazing. And the other department is always on the chopping block. They are both offering you the same pay, which would you choose? The fourth concept states that: Everyone chooses certainty over uncertainty. If you understand these four concepts, you will be a master of dealing with people in your life.

Prayer: Lord, help me grasp and deploy these concepts in my relationships, in Jesus Name