.Patience May Be A Key Economic Indicator
Patience May Be A Key Economic Indicator
From Dinar Recaps Archives posted on 8/6/2019
Why wealth and patience appear to go hand in hand
Patience is often thought of in terms of social interactions. But the ability to bide one’s time also plays into national economics.
July 29, 2019 By Danny Jin Staff writer
Patience may be a virtue, but it could also be a key economic indicator.
Economists are interested in values like patience, altruism, and trust because they play key roles in how people behave.
Those individual and collective behaviors can have wide-ranging effects on a nation’s propensity for armed conflict, trajectories of per capita income, and expansion of entrepreneurial
activities.
Levels of patience, for instance, vary widely from country to country, according to an analysis of survey data collected from 80,000 adults in 76 countries. Sweden, the Netherlands, and the United States topped the list, with Nicaragua, Rwanda, and Georgia at the bottom.
Patience, it seems, is associated with factors that are key for upward mobility. Patient individuals, for example, not only were more likely to save but also had higher education levels, researchers found.
To continue reading, please go to the original article at
https://www.csmonitor.com/Business/2019/0729/Why-wealth-and-patience-appear-to-go-hand-in-hand