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Best quote I read last weekend

"The cash register did more for human morality than the congregational church."

"Academic Economics: Strengths and Faults After Considering Interdisciplinary Needs," by Charles Munger, at the Herb Kay Undergraduate Lecture, University of California at Santa Barbara, Economics Department, October 3, 2003 (25-page pdf)

Thanks to John Jay for the link ("Educated Beyond our Intelligence," Chicago Boyz, December 4, 2006)

I met Charles Munger once at a business meeting in 1995, where representatives of two publishing companies were discussing a potential relationship. Within the first ten minutes, the impact of online delivery on publishing came up. I was the only one in the room who did not know who Mr. Munger was, and I peppered him with questions for the better part of the rest of the meeting. Afterwards, I told my boss, "That guys gets it. He really gets it." My boss laughed and told me he was Warren Buffet's partner.... Charles Munger is not only one of the smartest business people I have ever met, he was gracious to boot.

December 10, 2006 12:15 PM    Economics

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