I think for most people, access to information and learning how to use that information becomes less of a priority until it becomes an inconvenience.
That's why services like middlemen or information brokers exist because of how even the smallest bit of reliable news or rumor can give one an edge over others. Work description can range from espionage or just paying someone to tip you which horse to bet and the pay offs can be several digits saved or earned.
What people are often paying for is the convenience and time saved not going through different hoops to gain something or avoid something.
How much value would I get if I subscribed to this newsletter? How much would it cost me to learn this? or how much money I would save if I learned this?
People, especially living with wealth can readily pay for information and hire others to use that information efficiently. It's like paying a small fee to get greater returns. It's a means to open opportunities others wouldn't notice due to lack of information.
This is the type of perspective that escapes people living in the rat race. They don't invest in learning opportunities or skills to get ahead unless their current situation makes it apparent that not knowing something is inconvenient. That's why Philippine culture values education and parents will do their best to get their kids through college. This increases the probability of enhancing social mobility to escape poverty.
I pay for seminars where most would be aversive about spending just to add more certificates to my resume. Most new grads don't see this move as viable and it's a sign of underappreciating how difficulty and cruel the job market can be in this economy. But the information shared on those seminars can make or break one's application for jobs over competing candidates.
The rich pay for information advantage and the convenience that comes along with that information. This mindset eludes most people and it's one habit that keeps people poor.
Thanks for your time.
