Ownership vs Control

Ownership is an innate human desire, except, we make the mistake of confusing it with control.
In the name of ownership, we end controlling things, and then we end up wasting disproportionate time reasserting our control.

How to differentiate between ownership and control?
A simple rule of thumb is that control can be taken away (or lost) much more easily than  ownership. As an example, since books can easily be lost or stolen, possessing books is a matter of control, while possessing knowledge is a matter of ownership. Possessing money is a matter of control, while possessing skills to earn money is a matter of ownership. Along the same lines, jewellery is about control while beauty is about ownership, car is about control while travel experiences are about ownership.

So, next time when there is choice to spend your limited resources namely, time and money, do wonder whether you are choosing ownership or control.

Random Thoughts: On minimum wage laws

NY Times in 1987

Raising the minimum wage by a substantial amount would price working poor people out of the job market.

NY Times in 2014

The weight of the evidence shows that increases in the minimum wage have lifted pay without hurting employment.

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