Are we doomed to repeat our mistakes?
The bottom line is that even though knowing financial history is important, requiring people to study it won’t make a big difference, because they’ll ignore its lessons. There’s a very strong tendency for people to believe in things which, if true, would make them rich. Demosthenes said, “For that a man wishes, he generally believes to be true” Just like in the movies, where they show a person in a dilemma to have an angel on one side and a devil on the other, in the case of investing, investors have prudence and memory on one shoulder and greed on the other. Most of the time greed wins. –said Howard Marks
“Almost all inventions such as cars, electric bulb, radio, television, computers, Internet, wifi, MRI, laser, robots and many other gadgets and technology happened thanks to the research by Western Universities.
On the other hand, let us pause and ask what the contributions of Indian institutions of higher learning, particularly IISc and IITs, have been over the last sixty-plus years to make our society and the world a better place? Is there one invention from India that has become a household name in the globe? Is there one technology that has transformed the productivity of global corporations? Is there one idea that has lead to an earth shaking invention to delight global citizens?
Folks, the reality is that there is no such contribution from India in the last 60. The only two ideas that have transformed the productivity of global corporations-The Global Delivery Model and the 24-hours workday-came from the company called Infosys.”-said Mr.Narayana Murthy