Monday, August 17, 2009

History of wealth

The Economist reports a simple method for how you or your children can be wealthier than otherwise: take a math class.
Mr Goodman has found that each extra required maths course raised the annual income of black males by 15%. (More reading classes had a negative or no effect on earnings.) More maths also increased the likelihood of young black men going to university and someday having a job requiring quantitative skills. But an advanced degree or better job accounts for only a fraction of the earnings increase. Mr Goodman reckons most of the wage increase reflects greater worker productivity.

One reason why people who learn more mathematics earn more is because doing maths makes you smarter and more productive.
Now they tell me.
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