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Saturday, August 6, 2022
Your Saturday Stoic Review — Week of August 1 - 7
PASSAGE OF THE WEEK:
The work you're doing today as you read these emails, as you write in your journal, as you review your premeditatio malorum, this is your hard winter training, as Epictetus would say. This is your prep list. And now when a crisis comes (and it will), trust it. Rely on it. Use it. You made it in your sanest moment.
In one of the most watched videos on the Daily Stoic YouTube Channel this week, Ryan Holiday explains the secret to the good life: virtue. "Virtue" can seem old-fashioned. Yet virtue—arete—translates to something very simple and very timeless: Excellence. To the Stoics, virtue was comprised of four key components: courage, temperance, justice, and wisdom. In this video, Ryan dives deep into each of the four virtues after he shares,
"Virtue is how I try to live my life. I wear this necklace—the four virtues are symbols, reminders, not of abstract ideas to me, but of how I try to live my life. As it says on the back of the necklace, acta non verbal—deeds not words. You live by the virtues, you embody them in the things you do on a daily basis."
On a recent episode of the Daily Stoic podcast, Ryan Holiday interviewed Morgan Housel, author of the mega-bestseller The Psychology of Money. The two talked about the reasons The Psychology of Money has sold millions of copies, the downsides of being unfathomably rich, how success can cannibalize future success, and being aware of how money can often come at the cost of independence and autonomy:
"It's like lifestyle debt. It's a unique form of poverty when you have no control over your schedule. And some of the richest, most successful people in the world have no control over their schedule."
"The ultimate form of intrinsic motivation is when a habit becomes part of your identity. It's one thing to say I'm the type of person who wants this. It's something very different to say I'm the type of person who is this."
Being poor isn't having too little, it's wanting more.
The writers Kurt Vonnegut (Slaughterhouse Five) and Joseph Heller (Catch-22) were at a glamorous party outside New York City. Standing in the palatial second home of the billionaire host, Vonnegut began to needle his friend. "Joe," he said, "how does it feel that our host only yesterday may have made more money than your novel has earned in its entire history?"
"I've got something he can never have," Heller replied. "The knowledge that I've got enough."
The Stoics define poverty as wanting more than you have. The person that needs more money, money power, more fame, more recognition…that person is impoverished. The sense of having enough, living in a place of fullness rather than of craving—that, the Stoics would say, is a wealthy person. "Wealth consists not in having great possessions," Epictetus said, "but in having few wants."
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