Two economists are walking down the street. One sees a $20 bill lying on the sidewalk and says, “Look at that $20 bill!” The second economist responds, “Nah, that’s not a $20 bill. If it was, someone would have picked it up already.”
How much does a CEO make compared to the average worker? If you’re like most Americans (many economists included), you probably have an estimate in your head that roughly translates as “too much.” Pressed for a number, you might come up with a figure around 30 to 1.
When considering poverty, our national conversation tends to overlook systemic causes. Instead, we often blame the poor for their poverty.
Can behavioral science help end poverty? We think so, and we have a few ideas.
Picture yourself on a beach. You are basking in the hot sun, feeling incredibly thirsty. Fortunately, there’s a bar at the resort where you’re staying. It’s pricey, but it’s just a few steps away. How much are you willing to pay for a cold beer?
It’s well documented that the consequences of childhood poverty are immediate and long-lasting. By their first day in school, children in poverty score worse than their middle and upper class peers on nearly every developmental measure from language use to attention skills.
As Madonna astutely noted in her 1984 song, we live in a material world.
Consider the following two types of Ivy League admissions programs designed to grant special access to students: Affirmative action and legacy admissions.
College education is too expensive, and textbooks are part of the problem. This is the thinking that motivated two psychologists to create an online platform to provide up-to-date, fully-customizable text books, for free.
There’s a puzzle that’s plagued psychologists, economists, and policy makers for decades.
