Summary
The audio recording by Charlie Munger delves into the psychology of human misjudgment. Munger discusses his interest in the subject and the development of his own system to understand irrational behavior. He emphasizes the importance of recognizing the intersection of psychology and economics and discusses 24 standard causes of human misjudgment, providing examples and implications in various settings. The talk provides a comprehensive overview of key psychological factors that influence human decision-making and behavior, valuable for anyone interested in improving decision-making processes.
**Speakers:**
- Charlie Munger
Notable Quotes
— 00:09 — « I always use the Frazier like a one-legged man in an ass-kicking contest and you are I mean you are really giving a lot of quarter to the external world »
— 00:15 — « George Bernard Shaw said and had a character say in the doctors dilemma and the last analysis every profession is a conspiracy against the ladee """ »
— 42:59 — « "The combination of genetic and cultural evolution, mostly genetic, is why these tendencies were programmed into the human mind by broad evolution. That can't be simply washed out automatically and they shouldn't be." »