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economics

Can We Foresee the Future? Explaining and Predicting Cultural Change

Image of futuristic skyline

What does the future hold? Our enduring fascination with predicting the future is reflected on the silver screen, as excitement builds over the Blade Runner sequel. We continue being mesmerized by ancient prophecies, such as Nostradamus' Quatrains. And we certainly pay very well to pundits, economists, and intelligence analysts who try to predict coming social, economic, and political events. Unfortunately, this abiding interest in prediction has not translated into the ability to forecast future events with much accuracy.

The ‘Great Gatsby’ Curve: Perceptions of Economic Mobility are Caused by Perceptions of Inequality

Illustration of older men and women dancing in a line

In 1931, James Truslow Adams defined the American dream as the idea that “each man and each woman shall be able to attain to the fullest stature of which they are innately capable, and be recognized by others for what they are, regardless of the fortuitous circumstances of birth or position.” At present, however, social mobility is remarkably stagnant, with one’s circumstances of birth having a large effect on later social class. Despite this fact, many people overestimate social mobility.

Psychology News Round-Up: ICYMI October 13, 2017

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Each week, we recap featured posts from Character & Context and other blogs around the cyberspace, plus news stories and tweets worth a look.
 
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Wealth Doesn’t Always Equal Health

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“Wealth equals health” has been a commonly accepted principle for decades. Beginning in 1967, the classic Whitehall studies revealed that higher-class British civil servants had lower risks of mortality from a wide range of diseases

The Psychology of Raising the Minimum Wage

Wordmap of minimum wage

By David Nussbaum

Barry Schwartz discusses the psychology of anchoring in Slate and how raising the minimum wage would affect other wages as well.