Rabbi Avigdor Miller once marveled at the notion that “two gases [hydrogen and oxygen] — neither of which can quench thirst – can be united into a clear and sparkling liquid which pours down one’s throat in a life-giving stream.” He added that “No liquid in the world can take the place of water for relief of thirst. This fluid is the most potent of all elixirs, although its availability and its inexpensiveness cause it to be overlooked. It is the universal solvent and the vehicle of digestion and of blood circulation. If water could be obtained only from the pharmacist, it would be the most costly of liquors, both for its vital properties and for its enjoyment.” And yet, most likely very few in the U.S. open a faucet and marvel as water pours out… precisely because it is so abundant and available.
Yet, in places like Somalia, South Sudan, Nigeria, Yemen and even places in the U.S. such as Flint, Michigan and drought-affected parts of California, water is very scarce and the cost (and value) of water has skyrocketed. In such places, people have a genuine and profound appreciation for clean drinking water. That’s because the value of everything is deeply affected by abundance or scarcity, whether the item is essential for life or not. In the U.S., the abundance of water has caused the value of “this most potent of all elixirs” to be mostly taken for granted. On the other hand, other commodities that are not essential to life – such as diamonds, gold, rhodium, platinum, plutonium, taaffeite, tritium, painite, californium – are highly valued because of their scarcity, even if they have no life-giving properties. This value is subjective. This is known as commodity theory, and it is something that every entrepreneur, business leader, and sales professional should understand thoroughly. This is where the laws of economics and the actions of sales and marketing professionals meet. Continue reading
Language – written and spoken — is the primary tool people use to communicate. While babies are not born speaking, they begin to acquire language skills relatively shortly after birth. By about one year old, babies are babbling and saying some words, and by two years of age most toddlers are learning new words daily and starting to form sentences. Based on the results of over 2 million people testing their vocabulary on www.testyourvocab.com, by age 9, the average American test-taker already has a vocabulary of 10,000 words and most American adult test-takers have vocabularies ranging from 20,000-35,000 words. That is for Americans learning one language: English.
It is generally believed that a person with a large vocabulary is better able to communicate with others, and that is usually a sign of intellect. If language is tied to intelligence, then it stands to reason that someone with the ability to speak more than one language would thus have an even larger overall vocabulary and would be even better able to communicate with others. Yet, there has been a great deal of debate in the U.S. over the years regarding teaching and speaking “English only”. Indeed, only 19.7% of Americans speak more than one language, versus 56% of Europeans. Looking at this issue strictly from a business standpoint, it appears that having bilingual or multilingual employees is good for business. Recent research shows that being able to speak more than one language is not only useful to businesses in places with a lot of diversity, it also makes for better – as in more talented – employees even in places where everyone speaks English. Continue reading