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The Morgan Housel Podcast cover image

Cumulative vs. Cyclical Knowledge

The Morgan Housel Podcast

NOTE

Science Is Objective; Personal Truths Are Subjective

Science remains true regardless of personal belief, showcasing its objective nature, exemplified by truths like germ theory. However, matters such as savings, spending, and investment strategies are inherently subjective and nuanced, shaped by the evolving state of the economy, society, and culture over time. What was once suitable for one generation may not apply to another, emphasizing the necessity of personal experience over rigid rules. Additionally, understanding financial matters requires adapting to cyclical knowledge rather than relying solely on inherited wisdom.

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