Charlie Munger, Daily Journal Chairman and Berkshire Hathaway Vice Chairman, discusses stimulus policy amid the pandemic.

Video Transcript

CHARLIE MUNGER: I think that to some extent the complaint about the rich getting richer during the-- as a result of the corporate panic, I think that's a misplaced concern. Nobody was trying to make the rich richer. We were trying to save the whole economy under terrible conditions.

And I think by and large, we made the-- the most practical decisions that were available to us. And we made the rich richer not as a deliberate choice, but because it was an accidental byproduct of trying to save the whole civilization. And it was probably wise that we acted exactly as we did. And it wasn't some malevolence of the rich that caused it. It was an accident. And the next time around, [? why, ?] the poor will get richer faster than the rich.