Wednesday, October 24, 2007

Success Secrets: Munger's "misjudgment" Part 7

This is Part 7 of an attempt to summarize the concepts of Charlie Munger’s insightful "Psychology of Human Misjudgment".

Earlier sections:

Part 1

Part 2

Part 3

Part 4

Part 5

Part 6

20. Munger Descriptor: Drug-Misinfluence Tendency
Alternate descriptor: Impaired judgment due to drugs

Munger’s entry on this one is short, but passionate. Drugs are a recipe for failure in life. I’d like to add that, from my on observations, I believe that there are many degrees of judgment impairment due to drug use, and that the ability to focus and concentrate is swiftly, and perhaps permanently impaired by drug use. I suspect that several generations of Americans have lost their edge due to drugs being available freely, and I don’t see a change in that profile anytime soon.

21. Munger Descriptor: Senescence-Misinfluence Tendency
Alternate descriptor: Mental deterioration with age

Mental agility will decline with age, but can be maintained with practice. Munger is, of course, correct: new research continues to come in about using both mental and physical exercise to maintain mental capacity in later years.

23. Munger Descriptor: Authority-Misinfluence Tendency
Alternate descriptor: Irrationally strong obedience to authority

People tend to follow authority, even though this obedience can produce negative results. Literal interpretation can produce tragic (or even darkly humorous, but disastrous) effects. Blind obedience can also produce horrors of immense magnitude (as in the Nazi-created Holocaust).


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