Monthly Archives: March 2008

What Type of Worker are You?

(See Comic) Not all work is created equal. And unless you know what kind of worker you are and make sure you do the kind of work right for your type, you will have a hard time being happy and successful in your work. In general, there are 4 types of workers. Each of these 4 types of workers are essential for any successful business venture. Without all four of these types of workers, a business will underachieve, if not outright fail. Most people are one type of worker. However, most people also have some proficiency with another type of work beyond their dominant type. small business The 4 Types of Workers Whiz: The whiz is the source of ideas. And ideas are what businesses are built upon. The whiz is the idea producer. This type of worker is good at coming up with ideas but usually not very good at executing them. small business The whiz rapidly moves from idea to idea and so needs other people in order to take ideas further. Realist: The realist brings ideas down to reality. The realist figures out the feasibility of ideas. The realist is the engineer of the operation who utilizes a knowledge base of tried and true methods to see if an idea can be realistically pursued. Salesperson: The salesperson is the business's connection to the outside world, which is where the money comes from. A good product can often sell itself, but not if no one knows about it. The salesperson is the person who figures out how to go out and establish the business within a community. Organizer: An organizer could be anything from an accountant to a janitor. Organizers are workers who are good at step by step work. These workers are the people who keep the nuts and bolts of the operation tight. small business Conclusion Although theoretically a person could do and enjoy all 4 types of work, that kind of person is very rare. Hence the saying, "No man is an island." Success requires an adequate amount of each type of worker. If a business lacks or skimps on certain types of workers, that business will under-perform, or perhaps outright fail. Also, the right types of workers need to be put on the right jobs. Otherwise, the result will be shoddy work and unhappy workers. There isn't necessarily such a thing as a bad job (although there is such a thing as an poor paying job), just the wrong person doing the wrong work.

The Truth About Economics: Part 7 Inflation Through History

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(See Comic) As the Roman Empire over expanded and eventually fell, the metal content of its coins shrunk; its currency became worth ever less due to excessive supply. In other words, the Roman Empire had inflation issues. As time went on they started making the coins of cheaper metals, they made them smaller, and they even started clipping coins. Mark Twain once said, “History doesn’t repeat, but it does rhymes.” And history is rhyming today in the United States. Today, it costs more to make pennies and nickels than they are worth at face value. In other words, they are worth more for their metal content than face value. Consequently, a law was implemented in 2006 to make melting down coins for their metal illegal. Years ago, when the United States had sound, constitutional money, the metal content of coins is what made them money, not the face value. money market interest rate Inflation has been a recurring problem throughout history. Approximately every 200 years, there has been a big wave of inflation driving prices higher followed by a period of relative price stability. These inflation waves have usually corresponded with population booms and usually ended in some variety of disaster, such as war, famine, disease, and so on, which reduced or stabilized the population. Population booms cause a number of problems involving price inflation. For one, it means more demand for basic goods, like grains, causing supply and demand issues. And two, it often compels governments to spend and print more money and thus go into debt to accommodate the booming population. This debt leads to currency debasement through oversupply, and acts as a hidden tax. investing online Price of Consumables in England 1200-2000 Logarithmic In a sane world with a stable population and sound money, the prices of most things would just get cheaper and cheaper. Steady productivity increases would lead to an abundant supply of goods, which, in turn, would allow people to get away with working less. Unfortunately, the world is not sane and people sabotage their own well-being by facilitating self-defeating behaviors. Coming Next: Part 8, It’s not just The United States