Bloomberg reports that Munger, speaking at the University of Michigan last week, said that people who're suffering in the current economic climate should "suck it in and cope." After praising bank bailouts, he breaks out this little gem: "Now, if you talk about bailouts for everybody else, there comes a place where if you just start bailing out all the individuals instead of telling them to adapt, the culture dies."

Saying that the economy would have been much worse without the bailout, and so "I think when you have troubles like that you shouldn't be bitching about a little bailout."

Then he said that Germany in the 1920s didn't manage its de-stabilized economy effectively, and what happened next? "We ended up with Adolf Hitler."

Speaking at a University of Michigan event this week, Munger said "I believe Costco does more for civilization than the Rockefeller Foundation," and the idea of "very intelligent people sitting around trying to do good" makes him squirm in his seat. Costco has been praised for its gentle treatment of employees.

Munger's view that big-box discount retailers are rich people's greatest gift to their fellow man stands in sharp contrast to that of Buffett, the folksy Nebraskan billionaire and Berkshire Hathaway CEO who plans to give 99 percent of his wealth away to charity.

It's to be expected that big-time executives view economic growth and entrepreneurship as the chief path to success. It's more rare, though not unheard-of, to hear such a view stated so plainly.