(We had a shortened week due to the UEA convention.)
Pillars:
What is the difference between money and currency? This week in Pillars we started with this question. Currency is built upon consumer confidence. It is a medium of exchange, it is portable, fungible, durable and divisible. Money is all these things as well but stores its value over long period of time.
We then looked at historically every fiat currency has led to overspending by its government, and how for the first time every nation on earth is practicing the use of fiat currency. History shows that this will open up a great transfer of wealth, and for the young entrepreneur to constantly look for ways to navigate this transfer.
We also examined other economic principles: inflation, deflation, Keynesian economics, and quantitative easing, considering their operation in ancient world economies, and then to discover a deeper thread to help these definitions applicable to the students on their journey of entrepreneurs.
Skills:
Keeping Promises. We watched and discussed Alex Sheen’s presentation, “What All Great Superheroes have in Common.” Alex makes some powerful observations:
- The “superhero ability” is the ability to make and keep a promise.
- In every superhero story (Spiderman, Superman, Batman, etc.) the will to make a superhero promise comes from some extraordinary challenge or difficulty.
- It's not our ability that makes or breaks us (villains have ability too), rather, it is the commitment to do good.
The Students had a great discussion around these points. For example, Will made the point, “if you keep a promise will gain a reputation that you’re trustworthy.”
Soapbox:
"Whatever course you decide upon, there is always someone to tell you that you are wrong. There are always difficulties arising which tempt you to believe that your critics are right. To map out a course of action and follow it to an end requires courage."
– Ralph Waldo Emerson
No comments:
Post a Comment