Our most recent podcast was called “Would a Big Bucket of Cash Really Change Your Life?” It showed that the winners of a 19th-century land lottery did not appear to convert their windfall into intergenerational wealth. This challenges the modern argument that cash transfers are one of the most effective ways of helping a poor family escape poverty — and, therefore, as we said in the podcast, might be seen as a depressing conclusion.
Judd Campbell from Odessa, Texas, wrote in to dispute the depressing part, and offer some worthwhile commentary:
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I just finished listening to the latest podcast about the Georgia land lottery in the 19th century. I actually found it not to be depressing at all.
1. It would be depressing to me to know that poverty has existed into modernity, and the solution would be a simple one-time transfer of wealth. Surely, we could have figured that out by now and eliminated poverty. Clearly, the issue is more complex than that, and thus we have an excuse for not developing a solution. Yet.
2. While I don’t consider myself wealthy, I do make a healthy salary and live in a comfortable home with 4 kids. There are a couple of things that I believe about my life, that may or may not be logical or factual, but provides me comfort:
a. My financial success is not due to my parents. I did it on my own. I did grow up in a comfortable home with loving and supportive parents, my father has a master’s degree, and I appreciate what they have provided me. But in my gut I feel like I achieved my own success. This podcast was uplifting, because it seems to confirm that I am responsible for my own success.
b. On the other hand, I feel like my financial success will help my children be financially successful. Even though I don’t give my parents credit for my success, I believe that I can influence my children to be successful.
This week’s episode was inspired by a conversation that Stephen Dubner had on an airplane. (You can subscribe at iTunes, get the RSS feed, or listen via the media player above. You can also read the transcript below; it includes credits for the music you’ll hear in the episode.) He was on his way to South Africa when fellow passenger Nassim Nicholas Taleb, author of The Black Swan and Antifragile, told him something remarkable: “If you look at ten or twenty or thirty of the richest countries around the world, among the richest people in those countries is someone from Lebanon.” Of course Taleb would say this, Dubner thought. He is Lebanese. But the idea stuck. And that’s what this week’s episode is about.
How successful is the Lebanese diaspora? And how did they get to be this way? Read More »
A reader named Matt Radcliffe writes:
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I’ve been working on a project concerning musical theater performance. I have a hypothesis which seems intuitive enough to me — that a lack of exposure to creative arts can lead to disastrous results for individuals (lack of education, poverty, etc).
I can find a plethora of research that proves the opposite (exposure to creative arts can lead to success), but I can’t find anything towards my hypothesis.
This week we solicited your questions for Dan Hamermesh, a regular Freakonomics contributor, and author of the new book Beauty Pays: Why Attractive People Are More Successful.
A lot of you chimed in with thoughtful questions about the relationship between success and beauty. Hamermesh has obliged by answering a great many of them, which you’ll find below. As always, thanks to everyone for participating. Read More »
I really blew it and everyone knows it. I was even asked to speak at some conference about failure on I think June 13. I might’ve deluded myself into thinking I’m the keynote speaker. But I might just be on a panel. Hopefullly I won’t fail at it. But if I do, I hope you can all come and watch it happen in slow motion. By the way, my favorite technique in public speaking is to slightly slur my words, but that’s another post.
I’m like Dr. Failure. I know exactly what you need to do if you want your wife to hate you, if you want to get thrown out of school, if you want to lose your investors $100 million. If you want to lose your home.
One-sixteenth of the time people are happy. The rest of the time they’re not. So if you start to avoid all the things that cause unhappiness then maybe there’s a small chance you can improve the ratio in your favor.
Claudia says, “Why are you writing about failure? Think positive!” What? Avoiding every possible way to fail is the most positive thing you can do to be happy and successful. Read More »