Charlie Munger on Bias from Envy / Jealousy. | Harvard University 1995【C:C.M Ep.81】

[Transcript]

CHARLIE MUNGER: Bias from envy/jealousy. Well, envy/jealousy made what, two out of the 10 commandments. Those of you who’ve raised siblings or tried to run a law firm or investment bank or even a faculty. I’ve heard Warren say a half a dozen times, “It’s not greed that drives the world but envy.”

Here again, you go through the psychology survey courses. You go to the index: envy, jealousy. In a thousand-page book, it’s blank! There are some blind spots in academia. But it’s an enormously powerful thing, and it operates to a considerable extent at a subconscious level, and anybody who doesn’t understand it is taking on defects he shouldn’t have.

(Source: https://youtu.be/07f8oasWqWg)

[YAPSS Takeaway]

"It is not greed that drives the but envy." ~Warren Buffett

1. It’s an enormously powerful thing, and it operates to a considerable extent at a subconscious level, and anybody who doesn’t understand it is taking on defects he shouldn’t have. ~Charlie Munger