China's "Little Emperors"
In a Freakonomics Radio episode called “Misadventures in Baby-Making,” we looked at the unintended consequences of China’s One Child Policy. A new paper (gated) in Science looks at the so-called “little emperors” and how they might impact China’s economy. From Bloomberg:
China’s one-child policy has produced adults that tend to have personality traits unsuited for starting businesses or managing companies, according to a study that adds to economic concerns surrounding the rule.
Using surveys of 421 men and women in Beijing and testing their skills in economic games, researchers in Australia found those born after the 1979 policy were more pessimistic, nervous, less conscientious, less competitive and more risk averse. They also found them to be 23 percent less prone to choose an occupation that entails business risk, such as becoming a stockbroker, entrepreneur or private firm manager.
(HT: Katherine Wells)