Rediscovering the Joy and Power of Reading

Normally, I breeze through books and absorb information with ease, The Evolution of the Income Approach by James H. Burton, demands a slower, more deliberate pace. Every sentence feels packed with meaning, requiring me to pause and reflect deeply. Despite the effort, it’s been worth it. Right now, I’m in a place where I want to increase my earnings, and to do so, I need to refine and clearly articulate the value I bring. Instead of improvising, I sought to understand the nature of value in the American economic system and how it has evolved over time.

One insight that stood out to me is that value was initially rooted in land. Early economists, such as the mercantilists, framed value as emerging from land rent or the products and services generated on owned land. A quote that resonated with me from this school of thought states:

“The need of money creates a need for exchange. The need for food increases the price of corn, and by extension, the land that bears that corn.”

William Petty, an early thinker, argued that the price people pay for land reflects the returns they expect to derive from it and the duration they can enjoy those returns. Building on this, the Physiocrats viewed agriculture as the only sector capable of producing a surplus beyond its costs. They emphasized the importance of landlords as the main supporters of the state, paying the primary tax and making the long-term investments necessary to improve land productivity.

This perspective was fascinating to me. It’s striking how the system shifted over time, moving away from producers and placing greater emphasis on consumers as the drivers of the economy. As I continued reading, I found personal resonance in the contributions of Adam Smith and J.B. Say. Smith introduced the idea of coordination as a vital factor of production, while Say identified management as a key agent in the economy. Their work highlights the role of the entrepreneur:

“The entrepreneur stands at the center of the productive process, coordinating the use of land, labor, and capital, and earning an appropriate type of income.”

This insight was validating for me. My own work often involves coordination, troubleshooting, connecting people, and facilitating communication. At times, I’ve doubted the value of these activities, unsure of where they fit in traditional metrics of worth. But this framework affirms that these functions are not just valuable—they are essential to any organization or productive system.

Going forward, I’m committed to analyzing the specific problems I solve, how I solve them, and the tangible value I bring to those I work with. This process is helping me confidently claim my worth and refine how I present my skills.

The journey is ongoing, but understanding these historical insights has already given me a clearer sense of direction. I look forward to uncovering more as I continue reading and growing.