Work is the refuge of people who have nothing better to do. : Oscar Wilde

Sunday, August 21, 2011

Warren Buffett: Human Abilities vs Outcomes

Warren Buffett might not be as successful as he should be. For anyone who does not recognise his name, he is only "the third wealthiest person in the world as of 2011."1 This is a clip I excerpted from an interview of Buffett done by Charlie Rose a week or two ago.2

Now if I were to say that a nurse or a teacher might be more valuable to society than an amazing investor like Buffett it might sound like some form of left-wing lunacy or bitterness. But when he says it one must pay attention. Clearly Buffett is aware that there are many distinct abilities and that our society has no way of rewarding something like equivalent levels of performance using them. In a way, he may also be asserting that there are other ways of evaluating contributions beyond what 'society' wants or needs.

In any case, I am grateful to him for offering this opinion.

1See this wikipedia article for details.

2Moyea FLV Editor Lite worked well for this editing job.