Human Behavior

“They are all libertarians until they are hit by higher interest rates” - Nassim Taleb

This sounds like a pithy statement, but the reality is that almost everyone is self-interested.  Everyone picks the ideology that helps them out the most.  The people ripping on libertarianism are trying to advance their own narrative.

The takeaway should be that the principles that most people express aren't the principles that they actually hold.

Their failure is not the failure of the principles, it's the failure of these people.

That's why it's important to understand Charlie Munger's speech, The Psychology of Human Misjudgment.

Every time someone says, "You can't waste a crisis," that identifies the speaker as someone pushing their own narrative.

Since everyone is subject to human biases, the only way to limit them is to reduce other people's influence on you.  Combine the Principal-Agent problem with this idea - why would you want anyone to have power over you?