Brian Tracy - Get Rich Now: Earn More Money, Faster and Easier than Ever Before

Other books by Brian Tracy

___________

Entrepreneurship

Make More Money

The Phoenix Transformation

The 10 Qualities of Influential People

Get It Done Now!

Earn More Money, Faster and Easier Than Ever Before

BRIAN TRACY

Published 2022 by Gildan Media LLC

aka G&D Media

www.GandDmedia.com

GET RICH NOW. Copyright 2022 by Brian Tracy. All rights reserved.

An earlier version of this book was sold under the title The Science of Money. This current version has been retitled, reorganized and expanded for an improved customer experience.

No part of this book may be used, reproduced or transmitted in any manner whatsoever, by any means (electronic, photocopying, recording, or otherwise), without the prior written permission of the author, except in the case of brief quotations embodied in critical articles and reviews. No liability is assumed with respect to the use of the information contained within. Although every precaution has been taken, the author and publisher assume no liability for errors or omissions. Neither is any liability assumed for damages resulting from the use of the information contained herein.

Front cover design by David Rheinhardt of Pyrographx

Interior design by Meghan Day Healey of Story Horse, LLC

Library of Congress Cataloging-in-Publication Data is available upon request

eISBN: 978-1-7225-2714-3

10 9 8 7 6 5 4 3 2 1

Money remains one of the most thought-provoking, emotional, and polarizing subjects in the world. Scores of books, articles, blog posts, and speeches have been written on what money is, how to earn it, how to spend it, who has it and who does not, and a myriad of other topics. And yet, despite this constant focus, there is one word that describes the average persons views about money: confusion.

Despite the great research that has been published on the topic, there is much misinformationwhat we might call financial white noiseabout money. As a result, most people either rely on chance for their fortune or ignore the subject altogether. This is a tragedy. People leave a great deal of their potential untapped when they turn their lives over to chance, or worse, give up on their dreams. Its totally unnecessary, because the secrets of money, how to create it, how to invest it, and how to spend it wisely, are known.

In this book, Brian will be examining both the laws of money, which have been proven and can be relied upon, and the myths about money. Myths include ideas that exist without any basis. They claim to be true but have been tested and disproven, or, at best, have never been decidedly proven.

This book has one central goal: to end the confusion around the topic once and for all, and to present the essential truths about money in one comprehensive place. If you study these ideas and apply them to your life and your business, you will become financially successful as surely as the sun will rise tomorrow.

Goal of this book: To end the confusion around money once and for all, and to present the essential truths about money in one comprehensive place.

The first law of money is the law of exchange: money is the medium through which people exchange their labor in the production of goods and services for the goods and services of others. Money is a medium of exchange for labor.

Before there was money, there was barter. People directly exchanged goods and services for other goods and services without the medium of money. In prehistoric times, someone would make a flint spearhead or a pot and exchange it for a carpet or a skin.

As civilization grew, barter became too clumsy. People found that they could exchange their goods and services for a medium like gold, silver, coins, seashells, wampumsomething that was scarce and valuable. People would have an item of value, which they could exchange for a chicken or a goat or something else they wanted. It makes the whole process more efficient.

That was the beginning of money, and it still defines what money is today, even though many people are very confused about it. Money makes the process of exchange more efficient. Today we go to work and we exchange our work for money, which we then use to purchase the products of the work of other people. Money is the medium through which we exchange our work for the work of others.

The first corollary of the law of exchange is that money is a measure of the value that people place on goods and services. Its only what a person will pay that determines the value of something. Things do not have value in and of themselves. Goods and services have no value apart from what someone is willing to pay for them. You cant say that your product or service is worth a given amount unless somebody else validates it by actually offering you that amount of money. All value is therefore subjective. This is the basis of the Austrian school, which is the most insightful school of economics in history. Value is based on the thoughts, feelings, attitudes, and opinions of the prospective purchaser at the moment of buying.

The second corollary of the law of exchange says that your labor is viewed as a factor of production, that is, as a cost, by others. This demolishes almost all of the economic arguments about whether people should be paid $15 an hour or something else. One name for human beings is Homo economicus. This means that we always act economically: we always try to get the very most for the very least. This is genetic; its built into our DNA. It has never been otherwise in all of human history. We never will pay more if we can possibly pay less.

Money is the medium through which we exchange our work for the work of others.

Each of us tends to look upon the sweat of our brow as something special, because its so intensely personal; it comes from us. It expresses who we are as persons. Its very emotional, because its our life. But as far as others are concerned, our labor is just a cost. As intelligent consumers, employers, or customers, we want the very most for the very least, no matter whose labor is involved. This is why people manufacture in China, Taiwan, Vietnam, or Indonesia. The customer in America does not care where the product comes from. The customer simply cares about getting the lowest price.

People talk about offshoring: sending jobs overseas. Its not the companies, its the customers that are demanding that they send these jobs there, because the products and services can be produced at a lower cost. Until very recently, almost all of Apples products were made in China. Why? Its because the cost to manufacture them in a more developed country is three or four times the amount it costs in China, so the customers in developed countries will not pay that amount. They demandindirectlythat companies offshore these jobs so that they can have the most for the least.

For this reason, you cant place an objective value on your own labor, protesting and demanding increases. Its only what other people are willing to pay for your labor in a competitive market that determines what you earn and what you are worth in financial terms.