Three Basic Rules

Q: What should a young person look for in a career?

A: I have three basic rules. Meeting all three is nearly impossible, but you should try anyway:

• Don't sell anything you wouldn't buy yourself.
• Don't work for anyone you don't respect and admire.
• Work only with people you enjoy.

I have been incredibly fortunate in my life: With Warren I had all three.

(Charlie Munger)

與其以此為守則，不如現實一點，視之為目標。四十嵗前達到，可以嗎？

The Law of Comparative Advantage

(S: George Shultz; M: Charlie Munger)


S: Charlie, the way I figure it is if we stop trading with China, the other advanced nations will do it anyway, and we wouldn't stop the ascent of China compared to us, and we'd lose the Ricardo-diagnosed advantages of Trade.


M: Well, George, you've just invented a new form of the tragedy of the commons. You're locked in this system, and you can't fix it. You're going to go to a tragic hell in a handbasket, if going to hell involves being once the great leader of the world and finally going to the shallows in terms of leadership.


S: Charlie, I do not want to think about this.


After reading the above conversation in "Poor Charlie's Almanac", my contemplation on free trade and the Law of Comparative Advantage should end.