Charlie Munger Quotes


People like the robber barons assumed that the doctrine of the survival of the fittest authenticated them as deserving power. You know, "I'm the richest. Therefore, I'm the best. God's in his heaven, etc." And that reaction of the robber barons was so irritating to people that it made it unfashionable to think of an economy as an ecosystem. But the truth is that it is a lot like an ecosystem. And you get many of the same results.


Citations

Munger, Charles T. "Academic Economics: Strengths and Faults After Considering Interdisciplinary Needs." Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger, edited by Peter D. Kaufman, Donning Company Publishers, 2005.

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Charlie Munger
Charlie Munger
  • Born: January 1, 1924
  • Nationality: American
  • Profession: Businessman

Charles Thomas Munger is an American billionaire investor, businessman, former real estate attorney, architectural designer, and philanthropist. He is vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett; Buffett has described Munger as his closest partner and right hand man. Munger served as chairman of Wesco Financial Corporation from 1984 through 2011. He is also chairman of the Daily Journal Corporation, based in Los Angeles, California, and a director of Costco Wholesale Corporation.