Grüezi!I’m Adrian Monck, and welcome to this LinkedIn newsletter featuring seven things that caught my attention this week. I’m back from vacation, bike packing with friends along King Alfred’s Way. Recommended!
Also this edition – what Japan knows about saving energy, good news from down under, and a chilling piece of history – Madison Square Garden in 1939.
Sharing is caring –Please share this newsletter!
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1️⃣Rich Kids, Poor Kids
The economics, sociology and psychology of friendship and money.
As a poor kid lucky enough to make it to elite educational institutions, I made an early discovery – rich kids didn’t want to be my friends.
It was as if they could scent poverty and politely but discretely avoid it.
Their clubs, connections and camaraderie were tantalisingly close, but permanently out of reach (see Walter Kirn’s ‘Lost in the Meritocracy’).
This came to mind as I read about economist Raj Chetty’s two recent studies exploring social mobility and cross-class friendship.
Chetty’s first paper finds that having rich friends is the best predictor of poor kids earning more later in life. His second looks at how those friendships form against the natural bias of friending ‘people like us’.
What are the experiences and places where rich and poor can meet and become friends? Neighbourhoods and educational institutions tend to be bad places for this. Work, recreational and religious groups? Better.
My favourite commentary on Chetty’s studies is from young conservative contrarian Rob Henderson. He turned a very tough start in life into an academic career, and whilst I don’t buy his whole schtick, when it comes to the trade-offs required for upward mobility and the barriers against it, he is on the money:
There are no easy solutions. In the meantime, here’s a lovely essay on friendship. Enjoy.
⏭It might not make you rich, but here’s new research on how retail investors can control their financial future.
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2️⃣ The Racist Origins of a Viral Disinformation Meme
And Russia’s role in turbocharging hate.
Here’s something I wrote over the holidays:
Disinformation is poisoning our public sphere. And the barriers? They are few and far between...
⏭4 key ways disinformation is spread online.
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3️⃣ How to Save Water
Recommended by LinkedIn
Flushed with success.
Here in Switzerland, the high pastures are too dry to feed to cows.
⏭Drought in Europe, and other top recent environmental stories.
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4️⃣ How to Head off an Energy Crunch?
Japan has ideas.
⏭This will help too: making the world’s buildings net zero.
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5️⃣ The Great Barrier Reef is Getting Great Again
Some good news amidst the grim.
⏭More good news: 8 endangered species bouncing back.
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6️⃣It Really Should be Called Lavaland
What Iceland’s latest eruptions mean.
⏭Iceland’s neighbour Denmark has the world’s highest digital quality of life.
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7️⃣ A Chilling Reminder From History
If America had taken a different turn in 1939...
⏭Reading for chilling, rather than chilling reading on ourbook club podcast.
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If you enjoy this newsletter – please recommend it!
Best,
Adrian
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