Wednesday, November 23, 2011

Do the poor suffer from financial PTSD?

Poor Concentration: How Poverty Changes the Way You Think - The Curious Capitalist: "The results: shoppers with above-average incomes did just as well on the tests whether they were faced with the $150 or $1,500 repairs, but those with below-average incomes did significantly worse when the repairs were going to cost $1,500 (as opposed to just $150). Even imaginary financial strain diminished the low-income group's ability to think straight."