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It's not a lack of self-control that keeps people poor

8 pointsby fraqedover 9 years ago

1 comment

kazinatorover 9 years ago
Of course; you would think it&#x27;s lack of savings, lack of income, lack of rich family, ...<p>&gt; <i>But psychology research says the opposite might be the case: poverty makes it hard for people to care about the future and forces them to live in the present.</i><p>This piece of insight is so old and well-worn that it goes by glib names, like <i>the vicious cycle of poverty</i>.<p>The &quot;permanent now&quot; is also traditionally called &quot;(living) from paycheck to paycheck&quot; or &quot;from hand to mouth&quot;.<p>If you have nothing, it&#x27;s very hard to get anywhere <i>just</i> by delaying gratification. There has to be something in place that accumulates or appreciates in value while you delay.