Consider the concept of your “personal economy.” What images are evoked this term? Many would jump to the conclusion that it revolves around being your own boss, bringing huge sums of money per month, etc. I’m not going to discount that kind of thought completely, but there’s much more than accompanies it. , That I will say in a second.
The institutional economy that predominates today began to evolve with the Industrial Revolution. The institutions grew and developed by acting as lenses, concentrating resources, including natural, financial, productive resources (both human and mechanical), and intellectual resources, to create leverage and increase production and productivity.
These institutions fall into four main, corporate, financial, medium and governmental categories. Together, they have made institutional capitalism one of the most positive forces of human history, contributing to increasing advances in technology, medicine and a general improvement in human condition.
However, as the institutional economy has evolved, it has placed increasing restrictions on individual freedom and freedom. First, to participate, we have to give up the control of our time in exchange for a payment check. Then, corporations can tell us where we should be, how long we have to be there and how many years we have to follow the employer. It was supposed that the other side of this trade was stability and security during our career and then a comfortable retirement. Recent history has shown that this is a false assumption.
In addition, institutions have done it “easy” so that we have everything possible as soon as possible. Corporations manufacture the products that the media tell us that we need and then financial institutions find out how we can get everything in a payment. As a result, we paid multiples more than the value of what we buy. In the end, we transfer a number of numbness of the mind of our richness back to these institutions.
Too many people today make a lot of money, just to lose everything so fast thanks to “having it today, living life in a payment philosophy.” This includes highly educated, successful, medical, lawyers, executives and bankers. And when they are in that position, they have renounced 100% of their individual liberties to these institutions. It is discouraging.
While some institution has control of its cash flow, large corporations, financial advisory companies, governments or their agencies, unions, lobbying groups, etc., have the ability to limit their freedom. The answer is to create a vibrant personal economy built in three main principles:
Develop a financial crime that you only control and generate a significant cash flow, which allows you to lead the lifestyle of your choice, in its terms.
The successful “personal economies” are based on knowledge of personal economic principles and understanding how to apply them to their unique situation. The goal is that you accumulate and took refuge wealth, ultimately creating your own legacy safe from which your family will benefit during the coming years.
Finally, it must be proactive with your efforts and once you experience success, share your knowledge and resources so that you can help others through the same obstacles you found. Think about it as planting seeds so that others harvest instead of storing all grain by itself.
The good news is that the institutional economy has also provided the means for motivated individuals to do this. Communications and power technology and Internet scope have made it possible for people to build businesses capable of delivering goods and services 24/7 to practically anywhere in the world. All with a capital investment of only a few thousand dollars.