Tuesday, November 26, 2013

Charlie Munger on The Future of American Civilization

I’ve said that American society is near its apex. It could be just before or just ahead of that point. Other people are more optimistic; Warren is more optimistic than I am. We’ve had the most incredible generations. Do you think it can go from generation to generation, from apex to apex? The historical record would give you some caution.

Whether the good behavior and values will outweigh the bad, I don’t know. On my way over here, I stopped to watch the concrete being poured for a new Wesco building. The design is sound. The system for putting it together is sound. The skill of the crews is sound. The inspection process is sound – every single pour of concrete is watched by an inspector paid by the city of Pasadena, and he’s a good, competent man. He watches to make sure every bar of rebar is correct. This building will outlast the pyramids. This system is a credit to our civilization. In contrast, look at the same process in Latin America or Japan, where guys take bribes.

There is a lot that is right in our country. In a recent five-year period, not one passenger died on a major airline. Imagine if other engineering systems were as good. A lot of pilots are recovering alcoholics, yet the system is safe enough to get us around this.