Determining your true rank in society is largely based on how others perceive your influence in the economy at large. It ain’t based on your opinion or grandiose perceptions about yourselves. It’s based on something else entirely different from what you may be thinking about. Let me explain and illustrate.
First of all, we are all traders, meaning that we exchange our products or services for something of value in return with the hope that we have a net gain. This can be accomplished by a physician exchanging medical advice in exchange for cash from a patient or an employees exchanging his assets cowrites in Human Resources in exchange to a paycheck.
The explanation is simple, direct, easy to understand, correct? Makes sense?
If a series of physicians decide to adopt this model of cash exchange for medical advice over time, then these series of exchanges become a market. In this case, the medical market.
A market, in its essence, is composed of a group of people wanting to exchange their products and services for money. The more people and transactions a market has, the more money is generated in return in that market. There are a large number of markets in the American economy. Some of them are:
1. The beauty market
2. The financial market
3. The house market
4. The education market
5 The insurance market
6 The automobile market
7. The Healthcare Market
And many more!
An economy is composed of a collection of markets, which in themselves are composed of millions and millions of transactions.
Transactions are the fuel that drives most if not all economies around the globe, including ours. American has the largest economy in the world because we have the largest exchange of products and services in the world, as of May of 2020.
Now that we understand how the system of exchanges operate, how can you determine your true position in society? That’s an elementary question dear Watson!
Answer: By the number of transactions people make in relation to the number of overall transactions made by a particular market.
Now, answer the question…
How many transactions did You make this trimester? Did you have a substantial net gain in the tens of millions? Or do you own an organization that does?
Jeff Bezos holds a very high position in society because one of his assets, Amazon.com, exchanges millions and millions of transactions each week generating a net gain for the organization.
The same logic can be applied to Elon Musk. This year alone, one of his assets, Tesla Motors, has processed the sale of 985,154 cars in exchange for “cash.” His position is society is obviously very high.
Rightly so, of course! Success at this level, even if Jeff and Elon parents had a lot of money at the time they launched their businesses, needs to be recognized. It’s a bit easier for Jeff to start Amazon.com with a 245K check from his parents, but hey… who said that life is fair?
A small business owner who generates 150K a year selling landscape equipment in rural Oklahoma doesn’t really have a as high of a position in society as he may think, meaning that leaders in Texas are highly unlikely to seek his advice on how to run the state finances based on his business model, for example.
I’ve know too many people who perceive themselves as elite when in reality they are mediocre at best. Decision makers who play in the major league (at the national level) could care less about what John Smith, an influential man among his peers in Maine thinks. In the grand scheme of things he is in the lower cast, regardless of how delusional he may be.
Rogers has taught us that 68% of the population falls within the average mean. Almost 7/10 people in a population is average, think about it. How many transactions did you make this past trimester? Did you have a substantial net gain in the tens of millions? A few are able to accomplish the former working for someone but they are a small minority, by the way.
If you have, congratulations. People in your nation are going to pay attention to what you say at scale, interview you, try to befriend you for self gain, and even ask you for a solution to a problem even if the problem is created by you.
If your net gain transactions are not very high, sorry. People are perhaps going to listen to you, out of politeness, nothing else, despite of how you perceive yourself in the societal strata.
One last thing… how you were raised, where you were born, and your ethnicity has no impact on your true position in society, transactions do. Makes sense?
That’s why Jay-Z selects the top 500 songs of all time for the Rolling Stone magazine not the summa com laude graduate of UC Berkeley with many years in the industry. A lot of people want to know what Bill Gates thinks about a pandemic instead of hundreds of other epidemiologists.
To me, determining a person’s position in society is clear. Those with the higher number of net gain transactions are at the top followed by those with less in increments, regardless of one’s level of education or perceived grandiose about themselves.
I’m aware that this essay has a provocative thesis but I hope that it doesn’t make it uninteresting.