Culture

Kids: Money & Marshmallows

Marshmallow Test: Want to teach your kids self-control? Ask a Cameroonian farmer. Now for the first time, there’s a study reporting on what happens when psychologists give the marshmallow test to kids outside Western culture, specifically 4-year-old children from the ethnic group Nso in Cameroon. Compared to German children in the experiment, the Cameroonian kids waited, on average, twice as long for the second treat. And way more Cameroonian kids — nearly 70% — waited the full 10 minutes to snag the second marshmallow. Only about 30% of the German kids could hold out.

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Source: Addicaid

What to Tell Your Ultra-Rich Kids about Money: Money is the last taboo. People will tell you about their sex life before they will talk about money. Such is the dichotomy for the ultra-wealthy as they work to strike a balance. They want to live well, but they don’t want to spoil their children. They want their kids to be well-adjusted and advantaged, but they don’t want them to lack ambition. Wealthy people on both sides of the equation — the wealth creators and the heirs — often consider it gauche to even discuss money. Some are embarrassed by it.

  • “What I make a point to do when all my kids have just turned 18 is visit our estate attorney in Richmond who my dad and now me have done business with for 28 years.”
  • All three children have attended public schools, and all work at the company starting at 11 or 12. They also must work outside the company after college, so they “learn what you have to do to make $100,000 a year.”
  • “Each child has a small trust set up when they were born that will mature in stages when they graduate from college, turn 30 and, finally, turn 35.”

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The Opposite Sex

Americans Are Wary of Being Alone With the Opposite Sex: Many men and women are wary of a range of one-on-one situations. Around a quarter think private work meetings with colleagues of the opposite sex are inappropriate. Nearly two-thirds say people should take extra caution around members of the opposite sex at work. A majority of women, and nearly half of men, say it’s unacceptable to have dinner or drinks alone with someone of the opposite sex other than their spouse.

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Source: Morning Consult survey of 5,282 registered voters, conducted May 2 to 5. Questions were shown in random order. The grey bar represents those who said they did not know or had no opinion.

Do Millennial Men Want Stay-at-Home Wives? Fewer of the youngest millennials, those aged 18 to 25, support egalitarian family arrangements than did the same age group 20 years earlier. The proportion of young people holding egalitarian views about gender relationships rose steadily from 1977 to the mid-1990s but has fallen since. In 1994, 83% of young men rejected the superiority of the male-breadwinner family. By 2014 that had fallen to 55%. Increased support for male leadership in home life among 18- to 25-year-olds may reflect an attempt to compensate for men’s loss of dominance in the work world.

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New York Times

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Top 1% Colleges and Marriage Geographies

TOP 1% COLLEGES: At 38 colleges in America, including five in the Ivy League – Dartmouth, Princeton, Yale, Penn and Brown – more students came from the top 1% of the income scale than from the entire bottom 60%. The top 10 are: Washington University in St. Louis, Colorado College, Washington and Lee University, Colby College, Trinity College (Conn.), Bucknell University, Colgate University, Kenyon College, Middlebury College, and Tufts University.

Elite colleges that enroll the highest percentage of low- and middle-income students: University of California, Los Angeles, Emory University, Barnard College, New York University, Vassar College, Bryn Mawr College, Massachusetts Institute of Technology, University of Miami (Fla.), Brandeis University, and Wellesley College.

Top 1 Percent Colleges

Colleges with more students from the top 1% (NYTIMES)

MARRIAGE BY GEOGRAPHY: The place where you grow up doesn’t affect only your future income, but it also affects your odds of marrying. The places that discourage marriage most tend to be cities, including San Francisco, Philadelphia and New Orleans, as well as their surrounding areas.

Nationwide, the jurisdiction with the single largest marriage-discouraging effect is Washington DC. But the New York area stands out even more. If we boiled down the list to only the country’s 50 largest counties, the top five in discouraging marriage would all be in the New York area.

New York Marriage Effect

New York Marriage Effect (NYTIMES)

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Chinese in America

CHINESE IN AMERICAN HIGH SCHOOLS: Families pay $40,000 to an education consultancy to get their children enrolled in a public high school in Michigan. The ultimate goal is for them to attend a top American university. (NYTIMES)

  • Roughly 370,000 students from the mainland are enrolled in American high schools and universities, 6x more than a decade ago. Their financial impact — $11.4 billion was contributed to the American economy in 2015. It has turned education into one of America’s top “exports” to China.
  • 83% of China’s millionaires are planning to send their children to school abroad. The average age, according to the poll, has dropped to 16 today from 18 in 2014 — the first time it has reached the high-school level.
  • In 2005, only 641 Chinese students were enrolled in American high schools. By 2014, that student population approached 40,000 — a 60-fold increase in a single decade — and it now accounts for nearly half of all international high-school students in the United States.

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CHINESE IN VEGAS: The first direct flight from Beijing to Las Vegas, launched Dec. 2 by Hainan Airlines, is viewed as a major step toward the goal the Las Vegas Convention & Visitors Authority has set to push international visitation to 30% over the next decade. International visitors currently account for 16% of traffic. (NYTIMES)

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Beauty in Age & Street Signs

2017 Pirelli Calendar: The calendar, a collector’s item that is produced annually and delivered free to a select group of high-powered clients and members of the fashion elite, is the second in the company’s history to subvert its decades-long tradition of displaying scantily clad models in campily suggestive poses.

  • For 2017, the calendar stepped up the game by concentrating more pointedly on age, and in the process flouting fashion’s last taboo. Evidently the bias against age, long endemic to Hollywood and the fashion runways, no longer applies to style marketing campaigns.
  • Helen Mirren peers imperiously from inside a high collar that lends her an aura of majesty. Nicole Kidman confronts the camera, her features slightly furrowed, her muscular arms hugging the back of a chair. Charlotte Rampling does each of those A-list stars one better, her pale skin and famously hooded eyes devoid of discernible makeup.

Julianne Moore. Credit: Peter Lindbergh

I LOVE NEW YORK: The bright placards were dreamed up and placed there by the state to promote tourism, each brandishing New York’s cheerful and familiar credo: “I Love N.Y.” But there is one problem: The federal government says the signs are illegal. The signs are out of compliance with signage rules because they are so big and crammed with words and information that they are dangerous distractions to drivers.

New York State Thruway sign. Credit: Mike Groll, AP

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