I feel like the results of risky behavior in the real world are somewhat similar to risky behavior in investing. When there is a bull market and overall growth

I feel like the results of risky behavior in the real world are somewhat similar to risky behavior in investing. When there is a bull market and overall growth trajectory, risky behavior is more likely to pay off. When a nation is in its growth phase, risky behavior is also more likely to pay off. If a nation starts to enter a phase of decline, perhaps more conservative behavior is a better gamble? Certainly you have to take risk to make outsized gains, I'm just thinking the likelihood of a payoff changes depending on the overall environment.