Poverty holds a seemingly unbreakable grip on families, neighborhoods, cities, and entire countries. It stretches from one generation to the next, trapping individuals in a socioeconomic pit that is nearly impossible to ascend. Part of the fuel for poverty’s unending cycle is its suppressing effects on individuals’ cognitive development, executive More
The economist Muhammad Yunus was awarded a Nobel Peace Prize in 2006 in recognition for his pioneering work in microlending – making small loans available to people living in poverty. Yunus believed that entrepreneurs in rural, impoverished areas needed the same things as any other business—capital to get their small More
Pacific Standard: There are good reasons why wealthy people are often reluctant to support policies, and political parties, that aim to distribute wealth more widely. For one thing, it isn’t in their short-term self-interest (as their taxes would likely rise). For another, it goes against the conservative ideology many of More
Slate: People often assume that the poor are less competent than the wealthy. Some even suggest that the poor have flawed values or ways of thinking. But my colleagues and I have recently found that the poor outperform the rich at some financial decisions. Under poverty, people develop a unique More
The Wall Street Journal: A fifth or more of American children grow up in poverty, with the situation worsening since 2000, according to census data. At the same time, as education researcher Sean Reardon has pointed out, an “income achievement gap” is widening: Low-income children do much worse in school More
Psychological science, once criticized for underestimating the impact of socioeconomic factors on psychological development and functioning, now plays a lead role in investigating how wealth and poverty affect thought, emotion, and action throughout our lives. Top researchers from the United States and Europe presented some of the most profound findings More
