Friday, October 12, 2012

Prospects of a Keynesian utopia-Why this Obsession for More Instead of Better?

The 15-hour working week predicted by Keynes may soon be within our grasp – but are we ready for freedom from toil?

John Quiggin seems to have covered everything here, except curiously for global warming.

Posted via email from FRauncher's posterous

Thursday, October 11, 2012

The Marshmallow Study revisited

For the past four decades, the "marshmallow test" has served as a classic experimental measure of children's self-control: will a preschooler eat one of the fluffy white confections now or hold out for two later?

Now a new study demonstrates that being able to delay gratification is influenced as much by the environment as by innate ability. Children who experienced reliable interactions immediately before the marshmallow task waited on average four times longer—12 versus three minutes—than youngsters in similar but unreliable situations.

I've often thought that this must be the case. We've all heard stories about poor people who come into a bit of money, spend it all right away, and eat beans for the rest of the month.

Posted via email from FRauncher's posterous