Most kids, indeed most people, actually do make rational choices. The key to understanding is incentives.
I think it was Charlie Munger, though it might have been Buffett, whose most famous little aphorism is: "Show me the incentives and I'll show you the outcomes."
Incentivize Idiocracy and you get idiots. Incentivize a high trust society and you get a great nation.
Aug 19
at
3:19 PM
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