Section 1.1: The Hard Work Ethic

This notion of hard work has been ingrained in us since childhood. Parents and educators often emphasize the importance of diligence. My mother, an industrious and entrepreneurial woman, embodied this principle. When I was in kindergarten, she attempted to launch a preschool that involved parents learning alongside their children. I vividly recall spending weekends at her preschool not to socialize, but to help set up the classroom, rearranging furniture and preparing toys. For my efforts, I earned a modest 1 RMB (approximately 0.14 USD).

We were encouraged to engage in household chores for money. Tasks like mowing lawns or crafting items to sell for Boy Scouts were commonplace. Essentially, we learned to work for our money, a mindset that prevails in many cultures today. In fact, a significant portion of the adult population actively participates in the workforce.

Labor force participation rates, which reflect the percentage of working-age individuals who are either employed or actively seeking work, serve as a barometer for economic engagement. As of July 2023, the U.S. labor force participation rate fluctuated between 62.1% and 62.6%.

This aligns with the classical understanding of wealth. Adam Smith, in his seminal work "Wealth of Nations," defines wealth as "the accumulation of goods and services that can satisfy human wants and needs." Thus, we accumulate wealth through our hard work.

Section 1.2: Money as Information

We pursue education to gain knowledge and skills, aiming for lucrative job opportunities post-graduation. We invest years preparing to acquire specialized knowledge—be it in engineering, law, or medicine—allowing us to perform tasks others cannot. The rarer the expertise, the greater the financial reward. However, this leads to confusion: while we utilize our knowledge to earn money, it does not equate to money itself.

To clarify, we can think of money as information—more specifically, information differentials. A historical example is the Rothschild family’s strategic exploitation of news during the Battle of Waterloo in 1815. Their network allowed them to receive crucial information 48 hours before the general populace, leading to significant financial gains.

Although this example may seem outdated, it illustrates the profound impact of information differentials—something intangible yet immensely powerful. Insider trading, a morally ambiguous practice, is now illegal, but anyone can leverage information differentials ethically through knowledge acquisition and hard work. Diplomas and certificates symbolize the information gap between experts and novices.

As information becomes more widely accessible through the Internet, a new economy is emerging, necessitating a shift in how we perceive education and trust.

Section 2.1: Money as Power

Upon entering the job market, we often uncover a deeper layer of money—its role as a tool for creating information differentials. Central banks have the unique ability to "create money" at will, influencing economic conditions. This power allows them to affect production, credit availability, and ultimately, our employment situations.

Key figures in society—politicians, bankers, and executives—hold varying degrees of power to create these differentials. However, we too can influence information differentials in mundane ways, such as rescheduling meetings. The difference lies in the scale of impact and the monetary value assigned to it.

Section 2.2: Money as a Measurement Tool

Finally, we reach a more nuanced understanding of money. The term "currency" derives from the Latin "currere," meaning "to run" or "to flow." Money facilitates the movement of the economy and the flow of information. Interestingly, "money" comes from the Latin "monere," which means "to warn." What is it warning us about?

In essence, money serves as a measurement unit—albeit a flawed one. Just as centimeters measure height and light-years gauge astronomical distances, money has its specific uses at varying scales. Thus, attempting to compare your savings to billionaires like Elon Musk is futile, much like trying to walk to the moon. Money's utility varies significantly based on context, and there will always be aspects of life that elude quantification.