Showing posts with label Study. Show all posts
Showing posts with label Study. Show all posts

Wednesday, May 15

Study: Gen Y feels entitled to the good life

By Amy Langfield, TODAY contributor
Today’s teenagers are more materialistic and less interested in working hard than the baby boomers were in their teens, according to a new study. But sorry, boomers, the researchers say it’s probably your fault for creating a culture that breeds narcissism and entitlement.

“You’re taught what’s important and how to act by your parents, the media and those around you,” said Jean Twenge, a co-author of the study and professor of psychology at San Diego State University. “It’s the cultural changes that are really bringing these changes.”

It’s not just millennials who are materialistic, according to the study published Wednesday in the Personality and Social Psychology Bulletin. The money-hungriness actually peaked with Generation X and has declined somewhat since then.

Among high school seniors, the need for money was highest around the end of the 1980s. For a cultural reference point, think 1987’s “Wall Street,” which put the phrase “greed is good” into pop culture.

And while GenY is less money-focused than the Gen Xers (but more so than the boomers) they are also the least willing to work hard, according to the research.

In the “don’t want to work hard” category, high schoolers in the mid-1970s agreed 25 percent of the time; in the late-80s that climbed to 30 percent; and by the mid-2000s it was up to 39 percent.

While the teens are now more likely than boomers to want a vacation home, there is a “growing disconnect between their willingness to do the work to pay for these things,” said Twenge, who is also the author of “Generation Me: Why Today's Young Americans Are More Confident, Assertive, Entitled -- and More Miserable Than Ever Before.”

The study makes a case for the high schoolers’ attitudes being a product of the times they grew up in. (This is where the blame gets passed to the older generations.) Growing up, the teens' values are influenced by the dominant social ideologies, family structures, economic situations, media, political and business messages, the researchers argue.

The research analyzed by Twenge and psychology professor Tim Kasser has been collected in Monitoring the Future surveys with U.S. high school 12th graders every year since 1976. For this study, the researchers did not examine data past 2007, though data are collected annually.

The study defines baby boomers as those born roughly 1946 to 1964; Generation X as those born 1965 to 1981; and Gen Y (known as the Millennials) as those born 1982 to 1999.

Thursday, April 18

Are billionaires just plain smarter? Study says yes

Are billionaires just plain smarter? Study says yes
Robert Frank , CNBC – 1 day

A growing body of research tells us that success is not so much a function of raw intelligence, but of work, circumstances and time applied to a specific skill.

It's a theme that helps power the American meritocracy and drive the dream that anyone can make it if they just try hard enough – even in the knowledge economy.

But it may not be entirely true.

A new study from Jonathan Wai, research scientist at Duke University, finds a strong correlation between brainpower and success – especially wealth. As the study states: "the top one percent in wealth highly overlaps with the top one percent in brains."

About 45 percent of billionaires are in the top one percent of cognitive ability, the study states. Billionaires were generally smarter than Fortune 500 CEOs, where 38.6 percent were in the top 1 percent of brains. Senators ranked just below that, with 41 percent, along with federal judges 41 percent. Members of the House were less smart, with 21 percent. (The smartest sub group of the American rich and powerful are male Senate Democrats).

Even among billionaires, however, there are wide variations in brainpower. Billionaires who made their fortunes from investments and technology were far more likely to be in the top one percent of brains; 69 percent and 63 percent of them were brain-one-percenters. Billionaires who made their money in fashion and retail, as well as food and beverage, were less brainy: with 25 percent and 23 percent of them in the brain elite, respectively.

So higher brainpower is not just concentrated at the top: it's concentrated among certain segments of the top.

There is one caveat to the theory. The study measures cognitive ability by attendance at 29 selected "elite colleges," which, it says, typically requires high test scores and therefore indicates high intelligence and high IQ. "Elite college attendance indicates a high general ability level," the study says.

But not always. As the study concedes, factors other than test scores and IQ can play a role in admission to elite colleges, like legacy preferences, wealth, sports scholarships and other attributes. And some very smart people don't go to the elite schools for financial or other reasons.


An earlier study from a research scientist finds that "IQ really has no relationship to your wealth."

Still, the Duke study found that fully 88 percent of the Forbes billionaires graduated from college. I guess Bill Gates and Mark Zuckerberg are more exceptions than the rule.

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