Law 40: Despise the Free Lunch
Key Idea: Nothing is truly free.
Phrase: "Value comes with a price."
Scenario: Be cautious of free offers and their hidden costs.
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Imagine you’re in high school or college. You know how sometimes it feels like everyone’s trying to impress each other or get ahead? The "48 Laws of Power" are a bit like a playbook for these situations. They’re not about being mean or tricking people. Instead, they’re about being smart and knowing how to handle things so you can achieve your goals without causing unnecessary problems. With that, we must remember that we should instill ethical considerations in our actions.
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2. Value Determines Price And Costs Are A Choice
With value being in the eyes (and experience) of the consumer, the price they are asked to pay must be (much) lower. The entrepreneur’s job is to figure out at what price their product is attractive, and then choose a cost structure that allows for profit. In other words, the price is a
“…If a man can reduce his needs to zero, he is truly free: there is nothing that can be taken from him and nothing anyone can do to hurt him.”
JOHN BOYD
The philosophy of free markets
- Adam Smith advocated for reducing the role of government intervention and taxation in free markets, but he saw the government as responsible for a country's education and defence sectors.
- From Smith comes the idea of the "invisible hand" that guides the forces of supply and demand ...
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