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In 2011, economist Guy Standing coined the term “precariat” to refer to workers whose jobs were insecure, underpaid, and mobile, who had to engage in substantial “work for labor” to remain employed, whose survival could, at any time, be compromised by employers (who, for instance held their visas) and who therefore…
In a series of experiments, the researchers found that pressing financial concerns had an immediate impact on the ability of low-income individuals to perform on common cognitive and logic tests. On average, a person preoccupied with money problems exhibited a drop in cognitive function similar to a 13-point dip in…
The poor often behave in less capable ways, which can further perpetuate poverty. We hypothesize that poverty directly impedes cognitive function and present two studies that test this hypothesis. First, we experimentally induced thoughts about finances and found that this reduces cognitive performance among poor but…