Outer Life's Outer Links

Before the Great Inflation

I remember when I was treasurer of Harvard we had a bookkeeper who'd got the same salary for twenty years. He was doing the same work. He didn't expect a raise. You got promoted, sure; but not just a raise on general principles.

Paul Cabot, quoted by John Train in The Money Masters.

Paradoxically Speaking

Life is interesting with some paradox. When I run into a paradox I think either I’m a total horse’s ass to have gotten to this point, or I’m fruitfully near the edge of my discipline. It adds excitement to life to wonder which it is.

Charles T. Munger, "Academic Economics: Strengths and Faults After Considering Interdisciplinary Needs," Herbert Kay Undergraduate Lecture, University of California, Santa Barbara Economics Department (October 3, 2003).