Are You Going to Manage Your Money?

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In fourth grade, you could make up to $250 per year in New York. In seventh grade, you canMake up to $500. It's real money. We opened up bank accounts for every single kid and we deposited the money into the bank account. And so, and what kind of magnitude are we talking about here? Great question. I'm not sure it really worked because he was walking to school one day and a kid came up to me and says, yo, professor, would you like me to manage your money? Sure. But like, what, tell me about your investment thesis. How are you going to manage my money? And he said, I'm going to

The good news about educational reform, says Harvard economist Roland Fryer, is that we know what it takes to turn a school around. The bad news is that it's hard work--and implementing it won't win you any popularity contests. Listen as the MacArthur Genius Award Winner and John Bates Clark medalist speaks with EconTalk host Russ Roberts about how pizza parties revealed the potential of incentives to improve students' test scores, and why he's far more concerned about closing the racial achievement gap than keeping the love of learning pure. He also discusses the five best practices of successful schools, and why it's his failures far more than his successes that keep him in this fight.