3min chapter

The Decision Education Podcast cover image

Episode 021: Fear, Freedom, and Financial Decision-Making with Morgan Housel

The Decision Education Podcast

CHAPTER

What Is the Impact of the War?

During the war, in the 19 forties, it was pretty much codified inti you are not allowed to have a salary over x. And if you are business, your profits cannot be over xis pretty much just like a cap on everything. Now, after the war ended, i think that philosophy and that ethos of if you are a ceo, you should not earn that much more money than youre than your employ kind of stuck around. It made people anchor their expectations in a way that i think has been detached ever since. I'm just interested in what happened, which is that it was very flat in the 19 fifties. The top marginal tax rate in the

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