How Will the Recession Affect Young Adults’ Mentality?
The New York Times’ excellent Freakonomics blog weighed in recently on how the current economic turmoil is likely to affect the mentality of young people who are coming of age in the midst of the crisis, citing research by economists Paola Giuliano and Antonio Spilimbergo. Their findings: Individuals growing up during recessions tend to believe that success in life depends more on luck than on effort, support more government redistribution, but are less confident in public institutions. Moreover, we find that recessions have a long-lasting effect on individuals’ beliefs. Believing that success is a crapshoot can’t be good for one’s morale or work ethic, but this is just one study. Younger readers weigh in: Has the recession affected your mentality…
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