--- title: "Meaning & Key Takeaway of: The great lesson in microeconomics is to…" description: "\"The great lesson in microeconomics is to discriminate between when technology is going to help you and when it's going to kill you. And most people do ..." image: "https://sms4smile.com/quotes/i/e37/charlie-munger-458_buffett_the-great-lesson-in-microeconomics-is-to_38064.jpg" --- # The great lesson in microeconomics is to discriminate… ![“The great lesson in microeconomics is to discriminate between when technology is going to help you and when it's going to kill you. And most people do not get this straight in their heads. But a fellow like Buffett does. For example, when we were in the textile business, which is a terrible…” quote by Charlie Munger](https://sms4smile.com/quotes/i/e37/charlie-munger-458_buffett_the-great-lesson-in-microeconomics-is-to_38064.jpg) [Download](https://sms4smile.com/quotes/i/e37/charlie-munger-458_buffett_the-great-lesson-in-microeconomics-is-to_38064.jpg) [Open image](https://sms4smile.com/quotes/i/e37/charlie-munger-458_buffett_the-great-lesson-in-microeconomics-is-to_38064.jpg) > “The great lesson in microeconomics is to discriminate between when technology is going to help you and when it's going to kill you. And most people do not get this straight in their heads. But a fellow like Buffett does. For example, when we were in the textile business, which is a terrible commodity business, we were making low-end textiles-which are a real commodity product. And one day, the people came to Warren and said, "They've invented a new loom that we think will do twice as much work as our old ones."” [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Understanding when technology amplifies value versus when it erodes competitive advantage is essential for strategic decision‑making. **In simple terms:** Tech can be a lever or a liability. Key Takeaway Assess tech impact before investing. Themes technology assessment strategic decision‑making competitive advantage risk management innovation Mood cautious analytical Type advice observation When to use this quote - evaluating new production tools - entering a commodity industry - adapting to disruptive tech Key Concepts microeconomics commodity markets investment strategy Practical Applications - guiding capital allocation - informing product development Questions to Reflect On - How do you determine if a technology will enhance or threaten your business? - What criteria would you use to evaluate a new tool’s strategic fit? ★ ★ ★ ★ ★ No ratings yet [Business](https://sms4smile.com/quotes/about/business/) [Customer](https://sms4smile.com/quotes/about/customer/) [Lessons](https://sms4smile.com/quotes/about/lessons/) [Microeconomics](https://sms4smile.com/quotes/about/microeconomics/) [People](https://sms4smile.com/quotes/about/people/) [Technology](https://sms4smile.com/quotes/about/technology/) [Thinking](https://sms4smile.com/quotes/about/thinking/) ## Related quotes > [Buffett does enjoy being a billionaire, but in offbeat ways. 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Some people, sometimes, need to finance a purchase or rent a car, and…](https://sms4smile.com/quotes/elizabeth-warren/good-for-warren-buffett-that-he-can-afford-to-do-that-some-people/) [Elizabeth Warren](https://sms4smile.com/quotes/author/elizabeth-warren/) > [At least once a year, I meet with a group called the Giving Pledge. It's a group of billionaires - including me, Warren Buffett,…](https://sms4smile.com/quotes/john-paul-dejoria/at-least-once-a-year-i-meet-with-a-group-called-the-giving-pledge-it/) [John Paul DeJoria](https://sms4smile.com/quotes/author/john-paul-dejoria/) Browse all 73 Buffett quotes ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "The great lesson in microeconomics is to discriminate between when technology is going to help you and when it's going to kill you. And most people do not get this straight in their heads. But a fellow like Buffett does. 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