Berkshire Hathaway Annual Shareholder Meetings (since 1994) cover image

2015-Morning Session-BRK Annual Shareholders Meeting

Berkshire Hathaway Annual Shareholder Meetings (since 1994)

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I've Been Fired Over Time in Capitalism

The alternate to the system of having your company right sized is what eventually happened in Russia. And everybody had a job and the way it all worked out was some workers said, well, they pretend to pay us and we pretend to work. Of course we want the right number of people in the jobs. If somebody thinks it'd be better to be running the railroads with a million, six, you know, people doing it, you would have a terrible railroad system. You wouldn't have anything like you have today. I've been fired over time in capitalism. It's interesting in the railroad business, after World War II in 1947 or thereabouts,. There were about 1.6 million

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