I’ve previously shared a number of posts and articles about research showing the negative impact poverty has on “cognitive bandwidth” – the understandable preoccupation with day-to-day survival that sometimes crowds out putting energy into longer-term planning and other behaviors. For example, lack of self-control does not result in poverty; in reality, poverty can cause what might be viewed by some as a lack of self-control.
See The Best Resources Showing Social Emotional Learning Isn’t Enough for those past articles.
Why poor people make poor decisions is a new good article giving a review of that research, and it’s unfortunate that it has a terrible headline.
No, not all poor people make poor decisions and, in fact, often make very rational decisions that are only perceived by some not in poverty as “poor” ones.
But it is clear that economic pressures do have a negative impact on “cognitive bandwidth” that could ordinarily be devoted to to more reflection and planning.
It’s another reason why education is not the solution to poverty (see The Best Resources On Why Improving Education Is Not THE Answer To Poverty & Inequality). In fact, political action is what will be required (see The Best Posts & Articles On Building Influence & Creating Change) to impact economic inequality (see The Best Resources About Wealth & Income Inequality).