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The Psychology of Money with Morgan Housel Podcast
Respect Each Others’ Delusions

Respect Each Others’ Delusions

The Psychology of Money with Morgan Housel vor 2 Jahren

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8:47

One sentence that knocked me off my feet when I read Will and
Ariel Durant’s The Lessons of History was: "Learn enough from
history to bear reality patiently, and respect one another’s
delusions."

I love that so much.

The key here is accepting that everyone is deluded in their own
unique way. You, me, all of us.

When you realize that you – the good, noble, well-meaning,
even-tempered, fact-driven person that you are – have views of
how the world works that are sure to be incomplete if not
completely wrong, you should have empathy for others whose
deluded beliefs are obvious to you. I am such a fan of Daniel
Kahneman’s observation that we are better at spotting other
people’s flaws than our own.

This episode shares three reasons why all of us become deluded in
our own way.