
Same as Ever: Timeless Lessons on Risk, Opportunity and Living a Good Life

Growth is good, if only because runts eventually get eaten. But forced growth, accelerated growth, artificial growth—that tends to backfire.
Morgan Housel • Same as Ever: Timeless Lessons on Risk, Opportunity and Living a Good Life
Edison wasn’t a grand planner. He was a prolific tinkerer, combining parts in ways he didn’t quite understand, confident that little discoveries along the way would be combined and leveraged into more meaningful inventions.
Morgan Housel • Same as Ever: Timeless Lessons on Risk, Opportunity and Living a Good Life
.implementation The key word bein tinkerer. You have to work along4-5 lines and expect things to fall in place
big gap between expectations and reality.
Morgan Housel • Same as Ever: Timeless Lessons on Risk, Opportunity and Living a Good Life
Same with the Reagan revolution. Almost 80 percent of Americans had high trust in the government in 1964. Then the 1970s happened. Years of high inflation and high unemployment meant Americans were ready to listen to a politician who said the government was the cause of their problems, not the solution. The big takeaway here is that we really have
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.fact .economics .reality
Spending on road construction went from 2 percent of GDP in 1920 to over 6 percent in 1933 (versus less than 1 percent today). The Department of Highway Transportation tells a story of how quickly projects began: Construction began on August 5, 1933, in Utah on the first highway project under the act. By August 1934, 16,330 miles of new roadway pro
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.economics .fact
After just five weeks a human embryo has a brain, a beating heart, a pancreas, a liver, and a gallbladder. By birth, a baby has 100 billion neurons, 250 trillion synapses, 11 cooperating organ systems, and a personality. It’s staggeringly complex.
Morgan Housel • Same as Ever: Timeless Lessons on Risk, Opportunity and Living a Good Life
He wrote: “The moral of this is not that ignorance is an advantage. But some of us are too much attracted by the thought of rare things and forget the law of averages in diagnosis.”
Morgan Housel • Same as Ever: Timeless Lessons on Risk, Opportunity and Living a Good Life
.modelthinking
Vannevar Bush, who ran the U.S. Office of Scientific Research and Development during World War II, controversially suggested the medical advances that came about from the war—most notably the production and use of antibiotics—may have saved more lives than were lost during the war.
Morgan Housel • Same as Ever: Timeless Lessons on Risk, Opportunity and Living a Good Life
.fact .economics
Hill discovered the same, but for our bodies. He called them “moral factors.”
Morgan Housel • Same as Ever: Timeless Lessons on Risk, Opportunity and Living a Good Life
.flash