In his own words
Munger on Fairness
3 sourced quotes. All themes
“Some systems should be made deliberately unfair to individuals because they'll be fairer on average for all of us.”
“The hedge fund operators of America get a much lower tax rate than the professors of physics or the drivers of taxis. This is demented.”
On the carried-interest tax break for hedge-fund managers.
“People will cheerfully tolerate considerable differences of outcome if they seem deserved. Nobody minds the fact that Tiger Woods has a big income because he's the best golfer who's ever lived. But differences in outcomes that are perceived as undeserved tend to disrupt democracy.”
He credits the deserved-inequality point to Aristotle.