A couple of nights ago, my wife and I were having dinner with some friends when the topic of conversation turned to social problems in lower income communities. My wife is a therapist who has worked with low-income individuals and families, and the couple we were having dinner with both work in those kinds of communities as well and so we were all very passionate about the subject.
During the course of conversation my wife brought up the fact that many of the clients she worked with had a sense of foreshortened future, i.e. that they would not live very long. She said that a lot of the adolescents she worked with anticipated dying by age 25. This idea, while surprising, was confirmed by our two dinner guests.
I think this has massive policy implications. We all make decisions about investments based upon their return, with some investments having short-term returns while others mature over a longer period of time. People with a sense of foreshortened future won’t ever make long-term investments. If you don’t expect to live past 25, why make an investment that wouldn’t benefit you until you were in your 30s? It would be completely irrational to do that.
So long-term investments, like education, are irrational. Why would you spend all that time and money going to school when you wouldn’t live to reap the benefits.
Other cost-benefit analyses would be altered by short-term horizons as well. You will be more likely to engage in riskier behaviors because the immediate benefit of the risky behavior is more likely to outweigh the costs, if the costs would be aggregated over a long time horizon. Why not commit a crime that could benefit you today when you don’t expect to live long enough to pay the consequences?
We cannot expect people to make long-term investments until they no longer have a sense of foreshortened future. Offering a person hope is just as important as offering them an education, because until they have the hope, they will never invest in the education. I think this shows that in community development, changing the psychology of the community is just as important as changing its economics. The two are intricately connected.
Recent Comments