The 20/80 Principle

The 20/80 principle was formulated by Vilfredo Paredo in the late 1800s. It states that roughly 80% of the effects come from 20% of the causes. Say, 20% of the carpet gets 80% of the wear. Or 20% of the customers provide 80% of the profits and so on and so forth.

This is not literal, nor should it be taken as such. I have found, through consideration, that although some people may say that it is true in all situations, I know that it is not applicable all around. One article that I read on the subject stated that 20% of the members of your family give you 80% of the love. I find that as ridiculous as it is untrue. Continue reading “The 20/80 Principle”

The Government and Interest Rates

You have read the title. Government and Interest Rates. What is the connection? The connection is made through the Federal Reserve. The government borrows money from the Fed and uses it (normally) to fund wars and structural purposes, along with salaries to government agents, etc. (Our president uses them for senseless-badly-timed-too-many vacations, but that’s a different matter.) By doing this the government gets hopelessly into debt, to our detriment.

Meanwhile, the Fed has been printing money (a right which should never have been given to them) with no gold backing. So the money that has been printed has less value than the previous batch. And so it goes on and on and on. This causes a process called inflation, whereby the money devalues more and more, until a loaf of bread costs a thousand dollars and the economy collapses.

Along with the currency, of course, interest rates devalue. So the interest rates grow higher as items in your local store go up in price. So, indirectly, the government has been raising the interest rates at the same time that they are devaluing the currency. It is vicious circle. Continue reading “The Government and Interest Rates”

Booker T. Washington’s School and His Struggles

Booker T. Washington, educated ex-slave and advocate for the black race in the early years after slavery, was elected to establish and teach at a school in Tuskegee, Alabama. He started in a small, leaky shack with a small, leaky church. Through strategic fundraising and timely help from a friend, he was able to purchase, after a month or so, a large piece of land with an acceptable building.

From the first, Booker T. sought to teach the students not only simple education such as is taught at our modern-day schools (e.g. math, language, science, etc.), but also manual work. Through this principle, Booker T. introduced the students to farming, brick-making, furniture-making, etc. They made money by this, but the main accomplishment was the implementation within the students of the principle of ‘honor in work.’ And the school grew. Continue reading “Booker T. Washington’s School and His Struggles”

Memorable Moments from Booker T. Washington

One of the most memorable moments was when he described the poor shanty in which he lived while still a slave with his mother and siblings. It was very poor, drafty (an understatement), hot in summer, frozen in winter.

His arrival at a school in Virginia called Hampton marked a memorable moment. His entry fee was a room so clean you couldn’t find a speck of dirt in it. Also with Hampton came the memory of General Armstrong, a man, he says, who was the best man he ever knew.

One of the major memorable moments was when he settled in at the town called Tuskegee in the Black Belt of the South (called the black belt for the color of the soil and the color of the majority of the people who lived there). He has so little money, that all he could afford for the school was a shack so leaky that an umbrella had to be held over him when he taught in the rain. Continue reading “Memorable Moments from Booker T. Washington”