Scientific equations do not consider monetary transaction cost when observing the reality. If we think of Newtons first law of motion, two jars of chemical will sit on a lab table forever unless a researcher mixes them. So hydrogen and chlorine will never make hydrochloric acid unless an external force brings them near. And a person cannot do that with an empty stomach. We the humans are part of all scientific equations and transaction cost is part of everything humans do, even if the theories do not add that in the equations. At least without humans the chain of actions cannot exist. In that sense money is in everything we do but we do not need to do everything. One person just needs to do something. Many initiatives never work out because thinkers only look at the equation without the transaction cost. Without the transaction cost equations are theoretically possible but practically impossible.
Posted on: Mon, 11 Nov 2013 11:34:22 +0000
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