Author redefines the idea of basic transactions that differs from what most think it is
DALTON, Ohio, Sept. 23, 2024 /PRNewswire-PRWeb/ -- When author H. Doyle Smith purchased a property in the mountains, he daydreamed about owning a large tract in the area. On reflection, he asked himself, "What will I do with it?" Without a use, the land would have no value. This insight showed him that the value of the land depended on the objective for which the land would be used, not some other person's opinion of its value.
When he studied economics in college, he questioned the basic definition of an economic transaction. Rather than finding that that transaction was an exchange of currency for goods and services, he found that the basic transaction in economics was the use of a resource for accomplishing an objective.
In "Budget Your Goals, Not Your Silver," Smith discusses the process of building economies. "As essential as economic studies are, valid economic studies must use data," said Smith. "But understanding the process goes beyond that study. Car salesmen are taught not to sell cars but what the cars will be useable for, and real estate agents must sell what the house can be used for and not the house itself. Cash economies must use data, and data is not available unless there is a unit of measurement, but the process of obtaining what is needed is not limited to cash economies." Smith also explores economies where money was not used.
"The idea that data economics alone is the only way to look at our economy establishes a conflict of interest that divides our people into wealthy and poor," said Smith. "It needs to be studied, and appropriate changes made."
Smith based his book on 60 years of actual experience, informed observations and trained readings. He has been a CPA for 30 years and draws on his knowledge to explore what causes an individual transaction to occur and the mechanics that happen when a transaction is being considered. That is the period between exchanges and the way demand develops. Because of this difference, Smith states that mathematics is inappropriate, while logic and psychology become much more important and relevant. The book helps to explain what causes a transaction to occur, and what the Mechanics are behind it.
"Every person is an economic unit," said Smith. "We need to encourage individual responsibility for the health of that unit and provide systems that allow that unit to strengthen itself and every combination, from marriage to a world economy."
"Budget Your Goals Not Your Silver"
By H Doyle Smith
ISBN: 9781665759939 (softcover); 9781665759946 (electronic)
Available at Archway Publishing, Amazon and Barnes & Noble
About the author
H. Doyle Smith, grew up in North Carolina, but has lived in ten states, worked in twenty-two, and visited all but one. He has been a CPA for thirty years, a corporate auditor, a hospital controller, and a real estate agent. For a time, he taught accounting at a small junior college and holds a Master of Arts degree in two-year college teaching. A member of Mensa and other high-intelligence groups, he lives in Ohio and is now retired. To learn more, please visit authorhdoylesmith.com.
Media Contact
Ziggy Goldfarb, Archway Publishing, 4803067065, [email protected]
SOURCE Archway Publishing
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