Wednesday, December 10, 2025

Incentives matter...................

 

We should also heed the general lesson implicit in the injunction of Ben Franklin in Poor Richard’s Almanack: “If you would persuade, appeal to interest and not to reason.” This maxim is a wise guide to a great and simple precaution in life: Never, ever, think about something else when you should be thinking about the power of incentives.

-Charlie Munger, from his The Psychology of Human Misjudgment


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