6 Money Myths Capitalism Implanted In Your Brain
The Financial Diet 18:45
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In this episode, Chelsea dives into the various work and life myths capitalism has made us all buy into, from the importance of owning a huge house to the humongous CEO salaries we've come to expect.
The Financial Diet receives cash compensation from Wealthfront Advisers LLC (“Wealthfront
Advisers”) for sponsored advertising materials. The Financial Diet a client and this is a paid
testimonial. The Financial Diet and Wealthfront Advisers are not associated with one another
and have no formal relationship outside of this arrangement. Nothing in this communication
should be construed as a solicitation, offer, or recommendation, to buy or sell any security. Any
links provided by The Financial Diet are not intended to imply that Wealthfront Advisers or its
affiliates endorses, sponsors, promotes and/or is affiliated with the owners of or participants in
those sites, or endorses any information contained on those sites, unless expressly stated
otherwise. Investment management and advisory services are provided by Wealthfront, an SEC
registered investment adviser. All investing involves risk, including the possible loss of money
you invest, and past performance does not guarantee future performance.
--
Sources:
40-hour workweek:
https://www.npr.org/2021/11/05/1052968060/how-the-40-hour-work-week-became-the-norm
https://www.businessinsider.com/history-of-the-40-hour-workweek-2015-10
https://www.bbc.com/news/business-57724779
"Poor people are lazy":
https://www.hks.harvard.edu/research-insights/policy-topics/social-policy/debunking-myth-lazy-welfare-recipient
https://www.theatlantic.com/business/archive/2018/03/welfare-childhood/555119/
https://www.nccp.org/publication/childhood-and-intergenerational-poverty/
Healthcare:
https://www.oecd.org/unitedstates/health-at-a-glance-united-states-EN.pdf
https://thehill.com/blogs/congress-blog/healthcare/484301-22-studies-agree-medicare-for-all-saves-money
https://khn.org/news/article/pharma-campaign-cash-delivered-to-key-lawmakers-with-surgical-precision/
CEO compensation:
https://www.cnbc.com/2021/09/15/in-2020-top-ceos-earned-351-times-more-than-the-typical-worker.html
https://www.weforum.org/agenda/2021/07/ceo-diversity-does-it-explain-ceo-to-employee-pay-ratio/
https://ips-dc.org/the_self-made_hallucination_of_americas_rich/
Unions & productivity:
https://www.bls.gov/news.release/pdf/union2.pdf
https://www.brookings.edu/blog/the-avenue/2021/12/14/is-your-business-struggling-with-the-labor-shortage-consider-a-union/
https://academic.oup.com/ej/article/130/631/1898/5824627
House poor Americans:
https://www.rocketmortgage.com/learn/house-poor
https://www.consumeraffairs.com/finance/what-is-house-poor.html
Join this channel to get access to perks:
https://www.youtube.com/channel/UCSPYNpQ2fHv9HJ-q6MIMaPw/join
The Financial Diet site:
http://www.thefinancialdiet.com
Facebook: https://www.facebook.com/thefinancialdiet
Twitter: https://twitter.com/TFDiet
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In this episode, Chelsea dives into the various work and life myths capitalism has made us all buy into, from the importance of owning a huge house to the humongous CEO salaries we've come to expect.
The Financial Diet receives cash compensation from Wealthfront Advisers LLC (“Wealthfront
Advisers”) for sponsored advertising materials. The Financial Diet a client and this is a paid
testimonial. The Financial Diet and Wealthfront Advisers are not associated with one another
and have no formal relationship outside of this arrangement. Nothing in this communication
should be construed as a solicitation, offer, or recommendation, to buy or sell any security. Any
links provided by The Financial Diet are not intended to imply that Wealthfront Advisers or its
affiliates endorses, sponsors, promotes and/or is affiliated with the owners of or participants in
those sites, or endorses any information contained on those sites, unless expressly stated
otherwise. Investment management and advisory services are provided by Wealthfront, an SEC
registered investment adviser. All investing involves risk, including the possible loss of money
you invest, and past performance does not guarantee future performance.
--
Sources:
40-hour workweek:
https://www.npr.org/2021/11/05/1052968060/how-the-40-hour-work-week-became-the-norm
https://www.businessinsider.com/history-of-the-40-hour-workweek-2015-10
https://www.bbc.com/news/business-57724779
"Poor people are lazy":
https://www.hks.harvard.edu/research-insights/policy-topics/social-policy/debunking-myth-lazy-welfare-recipient
https://www.theatlantic.com/business/archive/2018/03/welfare-childhood/555119/
https://www.nccp.org/publication/childhood-and-intergenerational-poverty/
Healthcare:
https://www.oecd.org/unitedstates/health-at-a-glance-united-states-EN.pdf
https://thehill.com/blogs/congress-blog/healthcare/484301-22-studies-agree-medicare-for-all-saves-money
https://khn.org/news/article/pharma-campaign-cash-delivered-to-key-lawmakers-with-surgical-precision/
CEO compensation:
https://www.cnbc.com/2021/09/15/in-2020-top-ceos-earned-351-times-more-than-the-typical-worker.html
https://www.weforum.org/agenda/2021/07/ceo-diversity-does-it-explain-ceo-to-employee-pay-ratio/
https://ips-dc.org/the_self-made_hallucination_of_americas_rich/
Unions & productivity:
https://www.bls.gov/news.release/pdf/union2.pdf
https://www.brookings.edu/blog/the-avenue/2021/12/14/is-your-business-struggling-with-the-labor-shortage-consider-a-union/
https://academic.oup.com/ej/article/130/631/1898/5824627
House poor Americans:
https://www.rocketmortgage.com/learn/house-poor
https://www.consumeraffairs.com/finance/what-is-house-poor.html
Join this channel to get access to perks:
https://www.youtube.com/channel/UCSPYNpQ2fHv9HJ-q6MIMaPw/join
The Financial Diet site:
http://www.thefinancialdiet.com
Facebook: https://www.facebook.com/thefinancialdiet
Twitter: https://twitter.com/TFDiet
Instagram: https://www.instagram.com/thefinancialdiet/?hl=en
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