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  1. gjmueller:

White high school dropouts are wealthier than black or Latino college graduates

When it comes to building wealth, whites have a vast advantage over their black and Hispanic peers. Writing at Demos, Matt Bruenig dug into the Federal Reserve’s latest Survey on Consumer Finances and found a huge wealth gap by race and ethnicity.
In fact, whites are so advantaged that the median wealth among white families headed by someone with less than a high school diploma ($51,300) is larger than that for black families headed by someone with a college degree ($25,900) and Hispanic families with a college degree ($41,000).
White non-Hispanics also fared better than their minority counterparts between 2010 and 2013. According to the Fed’s 2013 survey, the median net worth for white non-Hispanic families held steady, growing by only 2 percent, while the median net worth for non-white or hispanic families fell by 17 percent.

    gjmueller:

    White high school dropouts are wealthier than black or Latino college graduates

    When it comes to building wealth, whites have a vast advantage over their black and Hispanic peers. Writing at Demos, Matt Bruenig dug into the Federal Reserve’s latest Survey on Consumer Finances and found a huge wealth gap by race and ethnicity.

    In fact, whites are so advantaged that the median wealth among white families headed by someone with less than a high school diploma ($51,300) is larger than that for black families headed by someone with a college degree ($25,900) and Hispanic families with a college degree ($41,000).

    White non-Hispanics also fared better than their minority counterparts between 2010 and 2013. According to the Fed’s 2013 survey, the median net worth for white non-Hispanic families held steady, growing by only 2 percent, while the median net worth for non-white or hispanic families fell by 17 percent.

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  4. cartoonpolitics:

Student loan debt has more than doubled since 2006, from $509 billion to a staggering $1.3 trillion. It now accounts for 40% of all personal debt – more than credit card debts and auto loans.

    cartoonpolitics:

    Student loan debt has more than doubled since 2006, from $509 billion to a staggering $1.3 trillion. It now accounts for 40% of all personal debt – more than credit card debts and auto loans.

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  5. Itamar Simonson and Emanuel Rosen, Market research can no longer predict what consumers will like

    stoweboyd:

    In 2007, 10,000 people around the globe were asked about portable digital devices. It was part of a study conducted by the global media company Universal McCann. One of the hottest topics at the time was the first iPhone, which was announced but hadn’t yet been released. Once researchers tallied the results, they reached an interesting conclusion: Products like the iPhone are desired by consumers in countries such as Mexico or India, but not in affluent countries. The study stated: “There is no real need for a convergent product in the US, Germany and Japan,” places where, one researcher later theorized, users would not be motivated to replace their existing digital cameras, cellphones, and MP3 players with one device that did everything.

    There’s a growing feeling that something is not working with market research, where billions are spent every year but results are mixed at best. Some of the problems relate to the basic challenge of using research to predict what consumers will want (especially with respect to products that are radically different). But marketers face one additional key problem: Study participants typically indicate preferences without first checking other information sources—yet this is very different from the way people shop for many products today.

    In the Universal McCann study, for example, people were asked how much they agree with the statement, “I like the idea of having one portable device to fulfill all my needs.” Indeed, there was a significant difference between the percentage of people who completely agreed with this statement in Mexico (79%) and in the United States (31%). So, in theory, people in the United States were much less excited about a phone that’s also a camera and a music player.

    But it was a different story when people got closer to making a decision. They heard about the iPhone in the media, where it was declared a revolutionary device, and read blogs and reviews from real users. As iPhones started rolling into the marketplace, the idea of “having one portable device to fulfill all my needs” was replaced by actual reports from users.

    It’s easy to blame the market research firm for this, but this is not our point. We are trying to explain the inherent difficulties in assessing consumers’ reaction in this new era. First, more decisions today are impacted by what we call O sources of information—“Other” information sources, such as user reviews, friend and expert opinions, price comparison tools, and emerging technologies or sources—whereas market research measures P sources—“Prior” preferences, beliefs and experiences. But let’s go beyond that: As we discussed, consumers have limited insight into their real preferences. This is especially true with respect to products that are radically different. Universal McCann correctly reported what it found. What market researchers often underestimate, though, is the degree to which consumers have difficulty imagining or anticipating a new and very different reality. What makes the task of a market research firm even trickier is that just as consumers’ expectations may be wrong (as was the case with the iPhone), there are many cases where industry expectations about what consumers will buy are wrong.

    This is just like the research before Sony came out with the Walkman, and found there was zero market demand for a portable cassette player, but management decided to go to market with the innovation anyway.

    Breakthroughs can’t be predicted by market research. 

    Steve Jobs said, in 1998, 

    It’s really hard to design products by focus groups. A lot of times, people don’t know what they want until you show it to them.

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  6. "Psychologists have found that people’s belief in a just world helps explain how they react to innocent victims of negative life circumstances. People become cognitively frustrated when presented with stories of victims who suffer through little fault of their own. They can deal with this frustration in two ways: they can conclude that the world is an unjust place, or they can decide that the victim is somehow to blame. Most people reconcile their psychological distress by blaming the victim. Even when we know that suffering is undeserved, it is psychologically easier to blame the victim rather than give up the idea that the world is basically fair."

    Melissa Harris-Perry [x] (via aerialiste)

    (Source: aerialiste, via theblackwashedpodcast)

    3402
  7. fastcodesign:

D.C.’s Elevated Park Might Be Better Than The High Line
A shortlist of designs for D.C.’s answer to the High Line is under consideration now. Waterfalls and trampolines, yes please!
See More>

    fastcodesign:

    D.C.’s Elevated Park Might Be Better Than The High Line

    A shortlist of designs for D.C.’s answer to the High Line is under consideration now. Waterfalls and trampolines, yes please!

    See More>

    48
  8. gjmueller:


There’s no such thing as a “normal brain.” In fact, there’s a lot of diversity in how different brains process information — a challenge for educators tasked with teaching a diverse group of learners. Dyslexia is a common variation that affects how kids read, but what’s really going inside the brain of someone affected by it? Kelli Sandman-Hurley’s TED-Ed video explains.

What’s Going On Inside A Dyslexic Student’s Brain?

    gjmueller:

    There’s no such thing as a “normal brain.” In fact, there’s a lot of diversity in how different brains process information — a challenge for educators tasked with teaching a diverse group of learners. Dyslexia is a common variation that affects how kids read, but what’s really going inside the brain of someone affected by it? Kelli Sandman-Hurley’s TED-Ed video explains.

    What’s Going On Inside A Dyslexic Student’s Brain?

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  11. thisbigcity:

Send us your best urbanism #didyouknow, and we just might include it in this series!
Fact Source

    thisbigcity:

    Send us your best urbanism #didyouknow, and we just might include it in this series!

    Fact Source

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  13. gjmueller:

Top Colleges That Enroll Rich, Middle Class and Poor

Over the last decade, dozens of colleges have proclaimed that recruiting a more economically diverse student body was a top priority. Many of those colleges have not matched their words with actions. But some have.
These colleges have changed policies and made compromises elsewhere to recruit the kind of talented poor students who have traditionally excelled in high school but not gone to top colleges. A surprising number of such students never graduate from any college.
This education gap is a problem not only for the teenagers on the wrong end of it. It’s a problem for the American economy. The economic differences between college graduates and everyone else have reached record levels. Yet for many low-income children – even many who get A’s in high school and do well on the SAT – college remains out of reach. No wonder that upward mobility is less common in the United States than in many other rich countries.

    gjmueller:

    Top Colleges That Enroll Rich, Middle Class and Poor

    Over the last decade, dozens of colleges have proclaimed that recruiting a more economically diverse student body was a top priority. Many of those colleges have not matched their words with actions. But some have.

    These colleges have changed policies and made compromises elsewhere to recruit the kind of talented poor students who have traditionally excelled in high school but not gone to top colleges. A surprising number of such students never graduate from any college.

    This education gap is a problem not only for the teenagers on the wrong end of it. It’s a problem for the American economy. The economic differences between college graduates and everyone else have reached record levels. Yet for many low-income children – even many who get A’s in high school and do well on the SAT – college remains out of reach. No wonder that upward mobility is less common in the United States than in many other rich countries.

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