Two thirds of american parents give their kids an allowance, averaging about 30 bucks a week. A child psychologist new york says if children receive allowance without any contingencies, it sets the presedent that free money is available. Some economists and psychologists say a better way to do it is to let catos earn money for chores that are usually not their responsibility,. like really gross chores involving cat turts and stuff. Also, cluding kids in financial discussions and budgeting can help them when it comes to their own finances later in life.
Part 2 is here! Gamestop, #stonks, Universal Basic Income, how to incentivize things that are good for us, whether or not kids should have an allowance, Trekonomics and more. Economist, professor and “Freakonomics” co-author Steven Levitt joins to chat about everything from being cheap and what decision making costs our minds to the worth of the Amazon rainforest. Rising economics star and Harvard Fellow Anna Gifty Opoku-Agyeman graces us with her thoughts on the subreddit WallStreetBets, how we measure the health of the economy, dealing with bullies, and Gossip Girl. Hey, watch out: you’re about to like Economics.
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