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The podcast discusses the things that never change in the world. They explore topics such as income growth and shifting expectations since the 1950s, the correlation between money and happiness, the inevitability of market volatility and excess, and the limitations of social problem solving.
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Quick takeaways
- The benchmark for what is considered normal and acceptable living standards constantly rises as people's well-being becomes relative to others' improved standards.
- Success tends to snowball as name recognition and perceived talent often outweigh actual talent, creating advantages for a select few and clustering success around them.
Deep dives
The perpetually moving goal post
Over the years, the typical American household income has increased, leading to a shift in expectations. What used to be acceptable living standards in the 1950s and 60s are no longer considered adequate today. People's well-being is often relative and gauged against others, which means that as living standards improve, the benchmark for what is considered normal and acceptable also rises.
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AI-powered
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode