The premise of constrained optimisation is choosing the best from a limited budget plus the economic theory of equilibrium. We can say that ‘Optimisation’ plus ‘Equilibrium’ equals ‘Economics’. This is a powerful combination and is readily accepted. However, there is a big problem. Imagine a trip to your local store. It offers a bewildering array of choices well within your budget yet, most people arrive at the checkout with more than they intended to spend.
Hey. It’s not your fault. You are entering a ’Science Park’ and you are being preyed upon more than you know. So, imagine going shopping for a spouse! This gives you a mind boggling multitude of choices and judging by the average divorce rate our choices are somewhat imperfect.
We are not always rational. We are mostly irrational. Who has chosen a burger and chips to eat which, we know is not an optimal health choice. We choose it anyway even though we have decided to earlier stick to a more healthy diet… We are not stupid but our biases are stronger than the will to change, well at any rate, not just now! 😊
So, in choosing to up our game in the story of financial life by earning money using the internet as a vehicle, do you think that we can make the right choice to do this?
We might choose to educate ourselves first before we begin. We might also choose to get started straight away and join a matrix programme which just requires others to participate. And you know that it is easy to encourage others to join you don’t you? Maybe…
The one thing about education is that once learned, the lessons cannot ever be taken away from you. Period.
In terms of education and you were going to invest your life savings, where would you rather go. Harvard, The London School of Economics or your local technical college? Which institution is likely to give you the best result? It’s obvious right? But do you actually have the choice? Probably not. For one thing, to get on to a course at Harvard or the LSE you might have to have a very high academic qualification already and your local Tech College may not have the course that is right for you beside which, you want to learn from home.
Being rational in your choices, you will want to chose a course that has a track record. That is taught by people who have excelled at it already and are now earning the money that you want to earn. Fair?
There are many courses out there and which won’t take your life savings. This is one of them.
See you at the graduation ceremony.
Malcolm George Patten
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