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Extraverted Populations Have Lower Savings Rates
Particular personality traits may have a powerful influence on a country’s economic outlook, according to new research. Across three studies, University of Toronto psychological scientist Jacob Hirsh found that populations that tend to have higher levels of extraversion are less likely to save for the future. Hirsh argues that understanding this link between personality and economic behavior will become even more essential as the world’s aging population begins to retire. High levels of debt accompanied by low savings pose national economic risks, including vulnerability to economic downturns and higher levels of unemployment.
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Background Music Influences Buying Behavior
Background music has a surprisingly strong influence on what products consumers buy and how much they’re willing to pay for them, according to a new study from psychological scientists Adrian North and Lorraine Sheridan of Curtin University and Charles Areni of Macquarie University. North and colleagues hypothesized that specific songs or musical genres could prime congruent concepts in a person’s memory, ultimately shifting people’s preferences and buying behavior. Hearing Edith Piaf in the grocery store may then be just the thing to nudge a buyer to choose a French wine over an Italian or South African one.
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Why Men Still Edge Out Women in Tech Jobs
The world’s top tech companies have realized that unconscious bias is bad for business. Elite companies like Facebook and Google are worried that subtle prejudices—for example, the implicit attitude that men are better than women at math and science—are leading hiring managers to unwittingly skip over the most competent, qualified candidates. "The tech industry overall has this belief that it's the most meritocratic industry of all and that bias and discrimination do not have a home here,” said Brian Welle, director of people analytics at Google, in USA Today.
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Want to Excel at Work? Take a Vacation
A comprehensive review finds that regular vacations are essential for keeping employees performing at their best.
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Amazon’s Mistake: Mixing Creative Conflict With Animosity
“Of all [Jeff Bezos’] management notions, perhaps the most distinctive is his belief that harmony is often overvalued in the workplace — that it can stifle honest critique and encourage polite praise for flawed ideas. Instead, Amazonians are instructed to “disagree and commit” (No. 13) — to rip into colleagues’ ideas, with feedback that can be blunt to the point of painful, before lining up behind a decision.” - New York Times Amazon’s CEO Jeff Bezos may want to read up on some new findings from psychological science: conflict can enhance creativity, but not all conflict is good for business.
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Microlending Success Starts with a Smile
The economist Muhammad Yunus was awarded a Nobel Peace Prize in 2006 in recognition for his pioneering work in microlending – making small loans available to people living in poverty. Yunus believed that entrepreneurs in rural, impoverished areas needed the same things as any other business—capital to get their small businesses started and growing. These entrepreneurs are frequently unable to get loans through traditional banking institutions. Through microlending, someone in Montana can help finance a small $500 loan so that an aspiring tailoring business in Tajikistan can invest in buying more sewing machines.
