Experiments by Professor Shafir at Princeton and others have documented how poverty itself leads people to make self-destructive decisions, perhaps by forcing them to focus attention on satisfying immediate needs to the exclusion of other considerations. (New York Times, February 24, 2016)
The American culture of the “culture of poverty” is alive and well. New York Times journalists still quote approvingly professors who tell them: “The poor lack two things: money and cognitive freedom.” And it appears that a major State actor, “the Obama administration,” relies on such experts for designing policies aimed at changing the behavior of those who do not act according to economic rationalism (e.g. do not save more for old age).