QuestionerWhat did you learn from the wealth of nations, and how did it shape your investment and business philosophy?
WarrenWell, it doesn't shape my investment philosophy, but it certainly learned economics from it. Adam Smith is one of those guys that really worn well. I mean, he is rightly recognized as one of the wisest people that ever came along. And, of course, the lessons that he taught way back then were taught again when communism failed so terribly, and people like Singapore and Taiwan and China and so forth came up so fast. The productive power of the capital system is simply unbelievable. And he understood that fully and early, and he's done a lot of good. I took an idea of his on the specialization of labor, and he talked about people making pins or something, but I applied that actually to philanthropy. You know, I mean, the idea that you let other people do what they're best at and stick with what you're best at, I've carried from mowing my lawn to philanthropy and it's a wonderful thing to just shove off everything and saying somebody else is better than that, and then I am at that, and then work in the field that's most productive for you.
QuestionerYou didn't do your own bowel surgery either.
WarrenNo. I'm not sure I have any reply to that.