It's sprinkled with short stories to prove his findings are correct. He delves into the economy, employment (or unemployment), politics, finance, investments, innovation, even the weather.

The short stories in the book exhibit certain ways that life, behaviour and business will always be the same, because they always have been. 

Armed with this knowledge of the not changing, Housel found he felt more comfortable about the future. He realised that focusing on things that never change, stopped him trying to predict uncertain events and spent more time understanding timeless behaviour. 

Hopefully, when you read this book it will nudge you down the same pathway and you will have a powerful new ability to think about risk, opportunity and how to navigate the uncertainty of the future. 

"Same As Ever" explains that nothing remains the same, but the fundamentals keep reoccurring repeatedly Delving into 1950s America, he paints a picture of how the economy was buoyant after WWII and people tended to be satisfied, happy and contented with their situation. But then, the unexpected happened... the '60s. 

However, during times of complacency, unexpected things happen which can upset the status quo and drive an economy into crisis. During times of crisis, people are spurred on to do things they wouldn't normally do, just to survive, as they did during the Great Depression of the early 1930s.Housel explains that the Military drives innovation and improvement during times of conflict, because a great many lives are at risk. 

He explains that the 'best story wins'. Great ideas explained poorly can go nowhere, while old or wrong ideas told in a compelling manner can change the world. People are busy and emotional and a good story is always more powerful and persuasive than ice-cold statistics. He also elucidates how recessions occur. When the economy is doing well, the lack of recessions actually plants the seeds of recession, which is why we can never get rid of them. 

When someone has a good idea, they tend to want that idea to become bigger and faster. But history has repeatedly shown, that growing too big and too fast turns a good idea into a bad idea. Another constant truth is that the biggest changes and most important innovations occur during, and after, a terrible event, when the consequences of not acting quickly are too painful to imagine. 

He refers to a quote that a good reputation can take years to build, but can be destroyed in a few moments, because good news travels so much slower than bad news. Housel illustrates how tiny things add up to huge things, good and bad. Same as ever...

This book does not ask the question:"What will the economy be doing this time next year, or even in ten years?" but, "What will still be the same ten years from now?" Knowledge of the things that never change is more useful, and more important, than an uncertain prediction of an unknowable future.

"Same As Ever...What never changes in a changing world." by Morgan Housel, is interesting and valid in today’s financial climate. It is well written in an easy-to-read style and a book that everybody should read to broaden their view for their lives in the future.

After you read this book "Same As Ever", you will see familiar themes repeat again and again in the years ahead, you will find yourself nodding and saying, "Yep, same as ever."

The Author

Morgan Housel is a partner at The Collaborative Fund and a former columnist at The Motley Fool and The Wall Street Journal. He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, winner of the New York Times Sidney Award, and a two-time finalist for the Gerald Loeb Award for Distinguished Business and Financial Journalism.

Reviewed by Ken

This is independent review, I am not paid by the publishers, so.If you Liked this review, Buy me a coffee

YOU MAY ALSO BE INTERESTED IN THESE BOOKS

DON'T MISS OUT

Receive our BookTalk newsletter with all the latest book reviews