The Morgan Housel Podcast Accountable to Darwin vs. Accountable to Newton
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Mar 18, 2024 Discover how Woodrow Wilson's innovative perspective on government inspires modern financial strategies. Explore the clash between Darwinian adaptability and Newtonian predictability in economic growth. Learn how Benjamin Graham's investment wisdom can be applied to navigate today's challenges. Delve into the balance between enduring mathematical laws and the need for flexibility in decision-making, illustrating the importance of adapting to shifting landscapes in both life and investments.
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Government as a Living Thing
- Governments aren't machines operating on fixed laws like physics.
- They are living entities that adapt and evolve, accountable to Darwinian principles.
Shifting Demographics
- Population growth fueled economies for centuries, seemingly like a law of nature.
- However, birth rates have plunged, defying historical trends and requiring economic models to adapt.
The Intelligent Investor's Limitations
- Morgan Housel found that Benjamin Graham's investing formulas, while insightful, no longer worked effectively.
- This realization sparked a search for understanding why.
