Listening to Robert Shiller's Coursera lectures on Financial Markets. Loved the following in Lecture 2:
Adam Smith wrote 2 books. The first one is called "The Theory of Moral Sentiments". In it, he says most people thrive on praise. That's what they need more than anything. However, the mature ones then graduate to wanting to be praiseworthy rather than just to be praised. It doesn't matter to them whether they are recognized and given praise as long as they feel that their actions are praiseworthy. Society and nations benefit when they seek out such people and give them positions of authority. Most normal mature adults make a transition from the desire of praise to a desire of praiseworthiness. He says its that tendency ultimately which makes an economy work, where people don't care just about praise. The successful society promote people up those who have the praiseworthiness desire, we try to recognize them and we try to put people of character into important positions
Adam Smith wrote 2 books. The first one is called "The Theory of Moral Sentiments". In it, he says most people thrive on praise. That's what they need more than anything. However, the mature ones then graduate to wanting to be praiseworthy rather than just to be praised. It doesn't matter to them whether they are recognized and given praise as long as they feel that their actions are praiseworthy. Society and nations benefit when they seek out such people and give them positions of authority. Most normal mature adults make a transition from the desire of praise to a desire of praiseworthiness. He says its that tendency ultimately which makes an economy work, where people don't care just about praise. The successful society promote people up those who have the praiseworthiness desire, we try to recognize them and we try to put people of character into important positions
