The key to getting smarter
SUMMARY - Billionaire Charlie Munger says that to get smarter, you have to constantly ask "Why? Why? Why?"
DETAILS - Why do the rich get richer, and the poor get poorer? Because the rich know secrets about wealth creation that the poor don't know. Why do the rich know? Because those secrets are passed on from generation to generation, within a family or a private club. These secrets are not even shared among friends (who often covertly compete against one another, to gain a social or romantic advantage).
If the poor don't know those secrets, why don't they look for them? Because, as Erich Fromm wrote in 1976, "the socioeconomic structure of society shapes people's social character so that they WANT to do what they HAVE to do." That is, people HAVE to show up for work every day so the company (and capitalism!) can survive, so society shapes people's psychology so that they WANT to get a job. Why does society or the government want people to have stable jobs? Because a stable job pays regular taxes (the government always gets paid BEFORE you get paid)!
Why is getting a job bad? Because, as multimillionaire Robert Kiyosaki wrote in Rich Dad Poor Dad, you never own a job. The company can take away your job anytime.
Why does the company want the ability to take away your job anytime? So they can exert power over you, through inducing in you the fear of losing your job. Why would people be afraid of losing their job? Because if they have a mortgage, then losing one's job is catastrophic: you lose your house.
Note: It's amazing to me that just spending 10 minutes to answer Why? Why? Why? questions clarifies a lot of things in my mind. Munger is totally right. It's the only way to truly get smarter.
DETAILS - Why do the rich get richer, and the poor get poorer? Because the rich know secrets about wealth creation that the poor don't know. Why do the rich know? Because those secrets are passed on from generation to generation, within a family or a private club. These secrets are not even shared among friends (who often covertly compete against one another, to gain a social or romantic advantage).
If the poor don't know those secrets, why don't they look for them? Because, as Erich Fromm wrote in 1976, "the socioeconomic structure of society shapes people's social character so that they WANT to do what they HAVE to do." That is, people HAVE to show up for work every day so the company (and capitalism!) can survive, so society shapes people's psychology so that they WANT to get a job. Why does society or the government want people to have stable jobs? Because a stable job pays regular taxes (the government always gets paid BEFORE you get paid)!
Why is getting a job bad? Because, as multimillionaire Robert Kiyosaki wrote in Rich Dad Poor Dad, you never own a job. The company can take away your job anytime.
Why does the company want the ability to take away your job anytime? So they can exert power over you, through inducing in you the fear of losing your job. Why would people be afraid of losing their job? Because if they have a mortgage, then losing one's job is catastrophic: you lose your house.
Note: It's amazing to me that just spending 10 minutes to answer Why? Why? Why? questions clarifies a lot of things in my mind. Munger is totally right. It's the only way to truly get smarter.
posted by Super Peter at 2:35 PM
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