6min chapter

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How to Get Rich: Every Episode

Naval

CHAPTER

Envy Can Be a Very Powerful Booster Rocket

When i was in high school, i had to make some money to pay for my first semester at college. Envy can also eat you alive if you let it follow your entire life. One that keeps coming up from micro economics is what's called the principal agent problem. As charlie munger says, if you can be working on incentives don't work on anything else. Almost all human behavior can be explained by incentives.

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