Leaders like to be judged on skill and strategy—but research suggests that chance and childhood matter far more than we admit. From prenatal exposure to pollution to growing up amid natural disasters, early experiences can quietly shape how much risk executives are willing to take decades later. In this episode, we explore how entering the job market during a recession fosters caution, how family and culture influence decisions on spending and social policy, and why leadership styles often reflect history as much as talent. The story reveals that today’s bosses are, in part, products of yesterday’s shocks—and that the crises of the present may already be shaping the leaders of the future.

https://www.economist.com/business/2025/04/24/the-early-lives-of-bosses