Charlie Munger Points Finger At System Flaws Leading People To Make Poor Decisions: ‘You Make It Easy to Steal By Your Own Sloppiness, You Will Cause A Lot of Good People To Go Bad’

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Berkshire Hathaway Inc. Vice Chairman Charlie Munger delivered a scathing analysis of systems characterized by short-term incentives during a 2011 interview at the University of Michigan’s Ross School of Business. His insights into the consequences of poorly designed systems were notably candid. “Good people go bad because of the way the system is structured,” Munger said. “If you run a big chain of stores and you make it easy to steal by your own sloppiness, you will cause a lot of good people to go bad. You will have created an irresponsible system and a system with these irresponsible incen…

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