Welcome back to the 1st Law Newsletter - Friday Edition.

In this email:

• A mans search for meaning

• The structure of an economic system

• Quote Purpose

Purpose

What is the meaning of life? A question that we often ask each other, almost jokingly. Surely no one actually has an answer for this absurdly loaded question... Except they do. Or more specifically, you do. Instead, ask yourself: What is the meaning of my life? What is the task that life asks of you that only you can do? This is where you will find the answer that we all seek.

There are three main areas people often find purpose: in work and in doing something significant; in family and love and taking care of others; in suffering and displaying courage during difficult times. Let these categories guide you on the path to figuring out what can only you do. This is what we should be focusing on. For long time readers, recall that what you work on is the deciding factor between success and mediocrity. Same with happy people and unhappy people; the main difference is what they have decided to pursue in their life and give meaning to.

Ideas from A Mans Search for Meaning by Viktor E. Frankl. Highly recommend this book.

Economic Systems

Who designed the economy? What even is the purpose of the economy? To clear up the daedalian topic, an economic system is the system of production, resource allocation and distribution of goods and services within a society. All economic systems must answer 4 major questions: What types and quantities of goods (and services) shall be produced? How the goods shall be produced and by who? How will the output be distributed? When to produce the goods?

Examples of popular economic systems include: Anarchy, Capitalism, Communism, Mercantilism, Network economy, PROUTist economy, Resource-based economy, Social Credit, Socialism.

There is often a strong correlation between ideologies, political systems and economic systems. Every company operating today has answered these questions uniquely. Answering these for yourself and for a novel product or service can also lead to a preliminary business plan.

Quote I Want To Share

This applies to so much more than just research. We are stretched thin by the breadth of tasks to be completed every day. Often our busyness is just distraction. Great ideas often strike when they are least expected. They blossom when they are not being pursued intently but rather allowed to fester and grow undisturbed.

The moral here is to not be over busy. Do not fill your days with 100% work and distraction. Your mind needs time - hours each day - to recover from all the information and calculation it has done. Instead, plan time for a walk, meditation, reading or journaling. Anything that allows you to decompress from the day and process what you have learned.

The key to having great thoughts in general is to have long periods of no thoughts, or at least focused thoughts.

Thanks for reading!

Lucas