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The solution societies find, as they get more specialized, is to make the trade into a two-step process. Instead of trading violins directly for potatoes, you trade violins for, say, silver, which you can then trade again for anything else you need. The intermediate stuff—the medium of exchange—can be anything that’s rare and portable. Historically metals have been the most common, but recently we’ve been using a medium of exchange, called the dollar, that doesn’t physically exist.
Hackers & Painters - Big Ideas From the Computer Age
Paul Graham
I do not think that there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature.
John D. Rockefeller on Making Money: Advice and Words of Wisdom on Building and Sharing Wealth
John Rockefeller
The advantage of creating wealth, as a way to get rich, is not just that it’s more legitimate (many of the other methods are now illegal) but that it’s more straightforward. You just have to do something people want.
Hackers & Painters - Big Ideas From the Computer Age
Paul Graham
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