Charles Munger - The present era has no comparable referent in the past...

The present era has no comparable referent in the past history of capitalism. We have a higher percentage of the intelligentsia engaged in buying and selling pieces of paper and promoting trading activity than in any past era. A lot of what I see now reminds me of Sodom and Gomorrah. You get activity feeding on itself, envy and imitation. It has happened in the past that there came bad consequences.

Charles Munger

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Charles Munger Quotes

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The present era has no comparable referent in the past history of capitalism. We have a higher percentage of the intelligentsia engaged in buying and selling pieces of paper and promoting trading activity than in any past era. A lot of what I see now reminds me of Sodom and Gomorrah. You get activity feeding on itself, envy and imitation. It has happened in the past that there came bad consequences. Charles Munger

They Said So®

Keywords

present era comparable referent past history capitalism higher percentage intelligentsia engaged buying selling pieces paper promoting trading activity lot reminds sodom gomorrah feeding envy imitation happened bad consequences

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