Economic Wisdom to Apply in Your Twenties

Chapter 54

Chapter 7 Section 2

A master called his servants together before leaving for a long journey, and entrusted them with the custody of his property.

According to the talents of each person, the master gave the first servant five talents, the second servant two talents, and the third servant one talent.

The servant who got the five talents then traded the money and made another five talents.

Likewise, the servant who gets two talents earns two talents.

But the servant who got a talent buried the master's money in the earth.

After a long time, the master came back to settle accounts with them.

The servant who got five talents came to the master with the other five talents and said, "Master, you gave me five talents. Look, I have earned five more."

"Well done! You are a man of many things and I will put you in charge of many more. Go enjoy your land now!"

Likewise, the servant who got two talents came with two more talents, and he said, "Master, you hand me two talents, look, I have earned two more."

The owner said, "Well done! You are a man who is confident in some things, and I will put you in charge of many things. Go enjoy your land now!"

At last a Tarrant's servant came, and he said, "Master, I know you want to be a strongman, and reap the land where no seed has been sown. I was afraid, so I buried the money in the field. Look there, That's where your money is buried."

The master rebuked him and said: "Lazy and wicked man, since you know that I want to reap the land that has not been sown, and reap the land that has not been sown, then you should deposit the money with the banker so that I can take my money with me when I come back." Give it back to me."

Then he turned to the other servants and said, "Take his one talent and give it to the man who has earned five."

This story from the "Bible? The Gospel of Matthew" became the original source of the important principle of economics "Matthew effect".

Some people summarize the "Matthew Effect" as: once any individual, group or region achieves success and progress in a certain aspect (such as money, reputation, status, etc.), it will have a cumulative advantage, and there will be more opportunities for greater success and progress. The "Matthew Effect" is everywhere and all the time.A prominent phenomenon is that in the distribution of human resources, the phenomenon of "the poor getting poorer and the rich getting richer" prophesied in "Matthew" is very obvious: the rich enjoy more resources - money, honor and status, and the poor But become nothing.

The "Matthew Effect" is also effective in our daily life at any time: people with many friends will make more friends through frequent contacts, while those who lack friends are often lonely all the time; more publicity, and therefore more fame; attractive people, more attractive, more attractive, and more likable, so they have more opportunities than the average person; the more educated a person is, the more May work and live in a highly educated environment.

The same is true in terms of money. If the return on investment is the same, a person who has ten times more capital than others will also earn ten times more; Strong companies can use various marketing methods to promote their products, while small companies can only survive in the cracks.

When young people first entered society, they did not have much experience base.But in order to further our studies and accumulate wealth potential, we need to suffer more when we are young.No matter in terms of contacts, capital, experience, or experience, we must start from scratch and accumulate raw resources for future value-added in the shortest possible time.

What needs to be reminded is that although the "Matthew Effect" tells us that we must attach importance to accumulation, it must be beneficial accumulation. Young people in their 20s often have impetuous personalities. They are too impatient when they first step into the society. They engage in high-risk investment activities such as futures and stocks as soon as they graduate, and even borrow large sums of money from their parents, relatives and friends.In the case of inexperience, once you lose all your money, you have to work harder than others for several years. Not only do you have no accumulation, you even fall into a vicious circle of "negative accumulation".

It can be said that the "Matthew Effect" is ubiquitous in fields such as biological evolution and personal development, as well as in the competition between countries and enterprises.Therefore, you should also understand that if you are weak, don't expect to get sympathy from others, and don't think like the third servant that the master will reward you for being poor; Become strong yourself!

Wisdom Pieces: "Matthew Effect" - A Shortcut from Success to Success

The so-called "strength" and "strength" in the "Matthew Effect" refer to the number of resources that can be mastered and used, and more resources are firstly manifested as stronger capabilities, and more resources also mean Dominance. "

"Resources are certain conditions that must be relied on to do something. Only when you have resources, fully understand them, and use them, can these resources serve you, and you must make others recognize the value of your 'resources'."

"The same chain of 'resources are just not enough' keeps most adults on their real-life launching pads."

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(End of this chapter)