donderdag 3 september 2009

the credit crunch - bad for your pocket, worse for your psyche

"People who are 18-25 when they experience a severe regional recession are influenced by that experience for the rest of their lives. Others are influenced much less; those under 17 or over 42 when the recession strikes do not seem to be changed by the experience."

"Recession-influenced respondents expressed a stronger preference for government redistribution, and they also tended to believe that success in life was more a matter of luck than hard work."

Read the full article by Tim Harford here.

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