Four Forces That Will Shape the Next Decade
Money For the Rest of Us
J. David Stein
4.5 • 1.4K Ratings
🗓️ 18 December 2019
⏱️ 26 minutes
🧾️ Download transcript
Summary
How climate change, money, trust and technology will interact to impact financial markets and the economy in the coming decade.
Topics covered include:
- Why we change much more over a decade's time than we predict.
- What is the best approach for transitioning to a new career.
- What have stocks and bonds returned over the past decade and what are reasonable return expectations for the decade ahead.
- Examples of how the impact of climate change is being priced into financial transactions.
- Why Ray Dalio thinks the world has gone mad and the system is broken.
- Why uncertainties regarding the creation, use and borrowing of money will be reflected in interest rates.
- How trust and technology will impact global trade and productivity growth.
Thanks to Cove and Sleep Number for sponsoring the episode.
For show notes and more information on this episode click here.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to Money for the rest of us. This is the personal finance show on money, how it works, how to |
| 0:07.6 | invest it and how to live without worrying about it. I'm your host David Stein today as episode 281. It's titled Four Forces |
| 0:17.0 | That Will Shape the Next Decade. |
| 0:21.2 | This is the last episode of the year and the last episode of the decade. |
| 0:26.0 | The time for reflection. |
| 0:29.0 | One of the things I've been doing is reading a book called Range by David Epstein. |
| 0:34.0 | I started the book, I put it down, and then I recently picked it up again. |
| 0:38.0 | He mentioned how psychologist Dan Gilbert and his colleagues measured the preferences, |
| 0:46.0 | the personalities, the values of more than 19,000 adults. |
| 0:51.0 | Their ages ranged from 18 to 68. And they asked some of them to predict how they would |
| 0:58.6 | change over the next decade. And then they asked others to reflect on how they had actually changed in the previous decade. |
| 1:07.0 | What was interesting is the predictors didn't think that they would change very much over the next decade. |
| 1:14.0 | Whereas those that reflected back were astounded by how much they had changed, |
| 1:21.0 | that their preferences, Gilbert says, for vacations, music, hobbies, and even friends were |
| 1:28.6 | transfigured. |
| 1:30.2 | He writes, the precise person you are now is fleeting, just like all the other people you've been. |
| 1:37.3 | That feels like the most unexpected result, but it's also the most well documented. |
| 1:44.0 | We will change in this next decade, just like we've changed in the past. |
| 1:51.0 | I was looking back in my journal for the first post I wrote in the decade. |
| 1:56.0 | I don't write in my journal very much. The first post wasn't until November 7th, 2010. |
| 2:02.0 | I wrote, my profession continues to be rewarding. 7th, 2010. |
| 2:02.5 | I wrote, my profession continues to be rewarding. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from J. David Stein, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of J. David Stein and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.