Rationality Quotes June 2012

Based on a book I just read called Poor Economics by Abhijit Vinayak Banerjee and Esther Duflo, it is true that extremely poor people are much, much less able to make and follow long-term plans than rich people. They suggest it has to do with various facets of a very poor person's life (for example, the difficulty of getting loans or even opening a savings account) and also with the "willpower depletion" aspect, because the everyday lives of the poor include so many small decisions that are made automatically by the societies that rich people liv... (Read more)(Click to expand thread. ⌘/CTRL+F to Expand All)Cmd/Ctrl F to expand all comments on this post

I absolutely love Poor Economics.

Rationality Quotes June 2012

by OpenThreadGuy 1 min read2nd Jun 2012413 comments

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