'The cathedral and the casino' · Transcript · BuffettMungerGPT

WarrenCapitalism in the United States has succeeded like nothing you've ever seen, but what it is is a combination of this magnificent cathedral, which is produced an economy like nothing the world's ever seen. And then it's got this massive casino attached. So you've got the cathedral and the casino, and in the casino, everybody's having a good time, and there's lots of money changing hands and everything, but the cathedral is what, got to make sure the cathedral gets fed to. that's fed too because the temptation, and the temptation is very high now, is to go over the casino where people say, you know, we've got magic boxes and all kinds of things that'll do wonderful things for you. And that's where people are happiest. That's where you get the most promised to you. That's where the most money is for the people that are pushing things. And, you know, the balance between the capital, the casino and the cathedral are... It's very important that... important that the United States in the next hundred years, make sure that the cathedral is not overtaken by the casino. Because people really like to go to casinos. And it's just so much more fun, and they bring bells, and when you win, and they bring your drinks and everything else. And it's designed to move money from one pocket to another. And in the cathedrals, they basically are designing things that will be producing goods and services for 300 and some million people like it's never been done before in history. It's an interesting system we've developed, but it's work. It dispenses rewards in what seems like a terribly capricious manner. I mean, the idea that people get what they deserve in life. deserved in life. And it's hard to make that argument. If you argue with it any other system where it seems to work better, the answers, we haven't found one. So I'll leave it to the next generation to send me the answer and then by Ouija board or whatever.