Charlie Munger - Abhishek Chakraborty

The Problem with Too Much Fairness

We care so much about fairness that we are willing to sacrifice economic well-being to enforce it. Research shows that just to ensure shirkers get what they deserve, we are prepared to make ourselves poorer.

Conformity: Why Everything Popular is Wrong

No matter how rational you are, consensus is hard to resist. Even if you choose to stick to your guns in the beginning, you are bound to capitulate at the end. It’s hard to look like a bozo for a long time, especially when you are the only bozo in the room.

Pavlovian Conditioning: Understanding Coca-Cola’s Brand Strategy

In Pavlovian conditioning powerful effects come from mere association. The neural system of Pavlov’s dog causes it to salivate at the bell it can’t eat. And the brain of man yearns for the type of beverage held by the pretty woman he can’t have.

Why Compensation Systems Fail

If you’re trying to change a behaviour, reason will take you only so far. Sometimes the solution to a behaviour problem is simply to revisit incentives and make sure they align with the desired goal.