I was thinking about what I’d teach if I were a college professor starting a class on business fundamentals. Where would I even begin? After giving it a lot of thought, I’d start with a lesson I learned in college.
I was thinking about something Dr. Bruce Black taught us at the University of Wisconsin-Oshkosh in the fall of 1976. Dr. Black’s classes were packed. He was a psychology professor with a larger-than-life personality, a good sense of humor, and he was a fantastic teacher who could hold an audience. In the very first class of Psychology 101, on the very first day, he covered the subject of self-interest. As Dr. Black explained, if you understand the simple concept of self-interest, you unlock the fundamental building blocks of everything related to human behavior.
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