Morgan Housel

And Ohio is better at agriculture than Oregon.

Some of that is natural resources, but some of it's cultural too.

It's cultural know-how.

And my family's been doing this for 70 years.

And so it's kind of in the blood.

So that exists too, but invariably in that, you're gonna have differences in outcomes.

When you're going through a financial bubble, New York's gonna be crushing it.

When you're going through an agricultural boom, Iowa's gonna be crushing it.

Technology boom, California's gonna be crushing it.

At the expense, at least by comparison, of other people.

A third society wakes up and says, screw this.

I don't I don't care about your talents.

I don't care that you're that you're LeBron.

I don't care.

It's not fair.

I'm not putting up with it anymore.

And those people in big enough numbers can cause successful revolts and have.

Violent and sometimes and sometimes less than violent.

The 1950s was by and large that amazing inequality in the 1920s.

The Great Depression burns everything down.