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

The Decision Education Podcast

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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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