Could your language affect your ability to save money? - Keith Chen
[Music]
so<00:00:16.560> the<00:00:16.720> global<00:00:17.119> economic<00:00:17.600> financial<00:00:18.080> crisis
so the global economic financial crisis
so the global economic financial crisis
has<00:00:18.880> reignited<00:00:19.680> public<00:00:20.080> interest<00:00:20.560> in
has reignited public interest in
has reignited public interest in
something<00:00:20.960> that's<00:00:21.279> actually<00:00:21.600> one<00:00:21.760> of<00:00:21.840> the
something that's actually one of the
something that's actually one of the
oldest<00:00:22.480> questions<00:00:22.880> in<00:00:23.039> economics<00:00:23.840> dating
oldest questions in economics dating
oldest questions in economics dating
back<00:00:24.320> to<00:00:24.480> at<00:00:24.640> least<00:00:24.880> before<00:00:25.199> adam<00:00:25.519> smith
back to at least before adam smith
back to at least before adam smith
and<00:00:26.480> that<00:00:26.800> is
and that is
and that is
why<00:00:27.920> is<00:00:28.000> it<00:00:28.160> that<00:00:28.400> countries<00:00:29.199> with<00:00:29.439> seemingly
why is it that countries with seemingly
why is it that countries with seemingly
similar<00:00:30.400> economies<00:00:30.960> and<00:00:31.119> institutions<00:00:32.160> can
similar economies and institutions can
similar economies and institutions can
display<00:00:32.880> radically<00:00:33.360> different<00:00:33.760> savings
display radically different savings
display radically different savings
behavior
behavior
behavior
now<00:00:36.079> many<00:00:36.399> brilliant<00:00:36.800> economists<00:00:37.280> have<00:00:37.360> spent
now many brilliant economists have spent
now many brilliant economists have spent
their<00:00:37.840> entire<00:00:38.239> lives<00:00:38.559> working<00:00:38.960> on<00:00:39.040> this
their entire lives working on this
their entire lives working on this
question<00:00:39.840> and<00:00:40.000> as<00:00:40.160> a<00:00:40.320> field<00:00:40.559> we've<00:00:40.800> made<00:00:40.960> a
question and as a field we've made a
question and as a field we've made a
tremendous<00:00:41.520> amount<00:00:41.760> of
tremendous amount of
tremendous amount of
headway<00:00:42.960> and<00:00:43.040> we<00:00:43.200> understand<00:00:43.760> a<00:00:43.920> lot<00:00:44.160> about
headway and we understand a lot about
headway and we understand a lot about
this
this
this
what<00:00:45.840> i'm<00:00:45.920> here<00:00:46.079> to<00:00:46.239> talk<00:00:46.399> with<00:00:46.559> you<00:00:46.640> about
what i'm here to talk with you about
what i'm here to talk with you about
today<00:00:47.600> is<00:00:47.760> an<00:00:47.920> intriguing<00:00:48.399> new<00:00:48.559> hypothesis
today is an intriguing new hypothesis
today is an intriguing new hypothesis
and<00:00:49.600> some<00:00:49.840> surprisingly<00:00:50.640> powerful<00:00:51.200> new
and some surprisingly powerful new
and some surprisingly powerful new
findings<00:00:52.000> that<00:00:52.160> i've<00:00:52.480> been<00:00:52.640> working<00:00:52.960> on<00:00:53.600> about
findings that i've been working on about
findings that i've been working on about
the<00:00:54.079> link<00:00:54.399> between<00:00:54.719> the<00:00:54.879> structure<00:00:55.360> of<00:00:55.520> the
the link between the structure of the
the link between the structure of the
language<00:00:56.160> you<00:00:56.320> speak
language you speak
language you speak
and<00:00:57.840> how<00:00:58.559> you<00:00:58.879> find<00:00:59.120> yourself
and how you find yourself
and how you find yourself
with<00:01:00.320> the<00:01:00.399> propensity<00:01:00.960> to<00:01:01.120> save
with the propensity to save
with the propensity to save
let<00:01:02.640> me<00:01:02.719> tell<00:01:02.879> you<00:01:03.039> a<00:01:03.120> little<00:01:03.280> bit<00:01:03.440> about
let me tell you a little bit about
let me tell you a little bit about
savings<00:01:04.080> rights<00:01:04.320> a<00:01:04.400> little<00:01:04.559> bit<00:01:04.720> about
savings rights a little bit about
savings rights a little bit about
language<00:01:05.280> and<00:01:05.360> then<00:01:05.519> i'll<00:01:05.680> draw<00:01:06.000> that<00:01:06.320> i'll
language and then i'll draw that i'll
language and then i'll draw that i'll
draw<00:01:06.799> that<00:01:06.960> connection
draw that connection
draw that connection
let's<00:01:09.040> start<00:01:09.600> by<00:01:09.840> thinking<00:01:10.159> about<00:01:10.320> the<00:01:10.479> member
let's start by thinking about the member
let's start by thinking about the member
countries<00:01:11.200> of<00:01:11.280> the<00:01:11.439> oecd<00:01:12.240> or<00:01:12.479> the
countries of the oecd or the
countries of the oecd or the
organization<00:01:13.280> of<00:01:13.439> economic<00:01:13.840> cooperation<00:01:14.400> and
organization of economic cooperation and
organization of economic cooperation and
development
development
development
oecd<00:01:17.439> countries<00:01:18.159> by<00:01:18.400> and<00:01:18.479> large<00:01:18.720> you<00:01:18.799> should
oecd countries by and large you should
oecd countries by and large you should
think<00:01:19.119> about<00:01:19.360> these<00:01:19.520> as<00:01:19.680> the<00:01:19.759> richest<00:01:20.159> most
think about these as the richest most
think about these as the richest most
industrialized<00:01:21.119> countries<00:01:21.520> in<00:01:21.600> the<00:01:21.680> world
industrialized countries in the world
industrialized countries in the world
and<00:01:22.799> by<00:01:23.040> joining<00:01:23.360> the<00:01:23.520> oecd<00:01:24.400> they<00:01:24.640> were
and by joining the oecd they were
and by joining the oecd they were
affirming<00:01:25.360> a<00:01:25.439> common<00:01:25.759> commitment<00:01:26.159> to
affirming a common commitment to
affirming a common commitment to
democracy<00:01:27.520> open<00:01:27.840> markets<00:01:28.400> and<00:01:28.640> free<00:01:28.799> trade
democracy open markets and free trade
democracy open markets and free trade
despite<00:01:30.400> all<00:01:30.560> of<00:01:30.640> these<00:01:30.880> similarities<00:01:31.840> we<00:01:32.000> see
despite all of these similarities we see
despite all of these similarities we see
huge<00:01:32.640> differences<00:01:33.119> in<00:01:33.280> savings<00:01:33.680> behavior<00:01:34.400> so
huge differences in savings behavior so
huge differences in savings behavior so
all<00:01:34.720> the<00:01:34.799> way<00:01:35.040> over<00:01:35.200> on<00:01:35.360> the<00:01:35.439> left<00:01:35.759> of<00:01:35.840> this
all the way over on the left of this
all the way over on the left of this
graph<00:01:36.720> what<00:01:36.880> you<00:01:37.119> see<00:01:37.360> is<00:01:37.680> many<00:01:37.920> oecd
graph what you see is many oecd
graph what you see is many oecd
countries<00:01:38.799> saving<00:01:39.200> over<00:01:39.439> a<00:01:39.600> quarter<00:01:40.000> of<00:01:40.079> their
countries saving over a quarter of their
countries saving over a quarter of their
gdp<00:01:40.799> every<00:01:41.040> year<00:01:41.520> and<00:01:41.759> some<00:01:41.920> oecd<00:01:42.560> countries
gdp every year and some oecd countries
gdp every year and some oecd countries
saving<00:01:43.520> over<00:01:43.759> a<00:01:43.920> third<00:01:44.240> of<00:01:44.320> their<00:01:44.479> gdps<00:01:45.040> per
saving over a third of their gdps per
saving over a third of their gdps per
year
year
year
holding<00:01:46.560> down<00:01:46.720> the<00:01:46.880> right<00:01:47.119> flank<00:01:47.439> of<00:01:47.520> the<00:01:47.600> oecd
holding down the right flank of the oecd
holding down the right flank of the oecd
all<00:01:48.720> the<00:01:48.799> way<00:01:48.960> on<00:01:49.040> the<00:01:49.200> other<00:01:49.439> side<00:01:49.680> is<00:01:49.840> greece
all the way on the other side is greece
all the way on the other side is greece
and<00:01:51.840> what<00:01:52.000> you<00:01:52.159> can<00:01:52.240> see<00:01:52.399> is<00:01:52.479> that<00:01:52.720> over<00:01:53.040> the
and what you can see is that over the
and what you can see is that over the
last<00:01:53.439> 25<00:01:54.000> years<00:01:54.479> greece<00:01:54.799> has<00:01:54.960> barely<00:01:55.280> managed
last 25 years greece has barely managed
last 25 years greece has barely managed
to<00:01:55.759> save<00:01:56.079> more<00:01:56.240> than<00:01:56.399> 10<00:01:56.960> of<00:01:57.040> their<00:01:57.200> gdp
to save more than 10 of their gdp
to save more than 10 of their gdp
it<00:01:58.560> should<00:01:58.799> be<00:01:58.880> noted<00:01:59.280> of<00:01:59.360> course<00:01:59.600> that
it should be noted of course that
it should be noted of course that
the<00:02:00.479> united<00:02:00.960> states<00:02:01.280> and<00:02:01.520> the<00:02:01.680> uk<00:02:02.159> are<00:02:02.399> the
the united states and the uk are the
the united states and the uk are the
next<00:02:02.719> in<00:02:02.880> line
next in line
next in line
now<00:02:05.119> that<00:02:05.280> we<00:02:05.439> see<00:02:05.680> these<00:02:05.920> huge<00:02:06.240> differences
now that we see these huge differences
now that we see these huge differences
in<00:02:06.799> savings<00:02:07.200> rights<00:02:07.680> how<00:02:07.920> is<00:02:08.080> it<00:02:08.160> possible
in savings rights how is it possible
in savings rights how is it possible
that<00:02:08.879> language<00:02:09.360> might<00:02:09.599> have<00:02:09.840> something<00:02:10.160> to<00:02:10.239> do
that language might have something to do
that language might have something to do
with<00:02:10.560> these<00:02:10.720> differences<00:02:11.280> let<00:02:11.440> me<00:02:11.599> tell<00:02:11.760> you<00:02:11.920> a
with these differences let me tell you a
with these differences let me tell you a
little<00:02:12.160> bit<00:02:12.319> about<00:02:12.640> how<00:02:12.879> languages
little bit about how languages
little bit about how languages
fundamentally<00:02:13.920> differ<00:02:14.319> linguist<00:02:14.720> and
fundamentally differ linguist and
fundamentally differ linguist and
cognitive<00:02:15.280> scientists<00:02:15.760> have<00:02:15.840> been<00:02:16.239> have<00:02:16.400> been
cognitive scientists have been have been
cognitive scientists have been have been
exploring<00:02:17.040> this<00:02:17.280> question<00:02:17.680> for<00:02:18.239> for<00:02:18.640> many
exploring this question for for many
exploring this question for for many
years<00:02:19.280> now
years now
years now
and<00:02:20.319> then<00:02:20.560> i'll<00:02:20.720> draw<00:02:20.959> the<00:02:21.040> connection
and then i'll draw the connection
and then i'll draw the connection
between<00:02:21.840> these<00:02:22.080> two<00:02:22.239> behaviors
between these two behaviors
between these two behaviors
many<00:02:24.879> of<00:02:24.959> you<00:02:25.040> have<00:02:25.200> probably<00:02:25.520> already
many of you have probably already
many of you have probably already
noticed<00:02:26.080> that<00:02:26.239> i'm<00:02:26.400> chinese
noticed that i'm chinese
noticed that i'm chinese
i<00:02:27.760> grew<00:02:28.000> up<00:02:28.080> in<00:02:28.239> the<00:02:28.400> uh<00:02:28.640> the<00:02:28.800> midwest<00:02:29.280> of<00:02:29.360> the
i grew up in the uh the midwest of the
i grew up in the uh the midwest of the
united<00:02:29.840> states<00:02:30.400> and<00:02:30.640> something<00:02:30.959> i<00:02:31.120> realized
united states and something i realized
united states and something i realized
quite<00:02:31.920> early<00:02:32.239> on<00:02:32.640> was<00:02:32.800> that<00:02:32.959> the<00:02:33.120> chinese
quite early on was that the chinese
quite early on was that the chinese
language<00:02:34.400> forced<00:02:34.800> me<00:02:34.959> to<00:02:35.120> speak<00:02:35.440> about<00:02:36.000> and<00:02:36.239> in
language forced me to speak about and in
language forced me to speak about and in
fact
fact
fact
uh<00:02:37.840> more<00:02:38.080> fundamentally<00:02:38.560> than<00:02:38.720> that<00:02:39.040> every<00:02:39.440> so
uh more fundamentally than that every so
uh more fundamentally than that every so
slightly<00:02:40.080> forced<00:02:40.319> me<00:02:40.480> to<00:02:40.640> think<00:02:40.879> about<00:02:41.440> family
slightly forced me to think about family
slightly forced me to think about family
in<00:02:41.920> very<00:02:42.160> different<00:02:42.480> ways<00:02:43.200> now<00:02:43.360> how<00:02:43.599> might
in very different ways now how might
in very different ways now how might
that<00:02:43.920> be<00:02:44.080> let<00:02:44.239> me<00:02:44.319> give<00:02:44.480> you<00:02:44.640> an<00:02:44.720> example
that be let me give you an example
that be let me give you an example
suppose<00:02:45.760> i<00:02:46.000> were<00:02:46.560> i<00:02:46.720> were<00:02:46.879> talking<00:02:47.200> with<00:02:47.360> you
suppose i were i were talking with you
suppose i were i were talking with you
and<00:02:47.599> i<00:02:47.680> was<00:02:47.840> introducing<00:02:48.319> you<00:02:48.400> to<00:02:48.560> my<00:02:48.800> uncle
and i was introducing you to my uncle
and i was introducing you to my uncle
okay<00:02:50.080> you<00:02:50.319> understood<00:02:50.800> exactly<00:02:51.200> what<00:02:51.360> i<00:02:51.440> just
okay you understood exactly what i just
okay you understood exactly what i just
said<00:02:51.840> in<00:02:52.080> english<00:02:52.720> if<00:02:52.879> we<00:02:53.040> were<00:02:53.200> speaking
said in english if we were speaking
said in english if we were speaking
mandarin<00:02:54.080> chinese<00:02:54.560> with<00:02:54.720> each<00:02:54.879> other<00:02:55.120> though
mandarin chinese with each other though
mandarin chinese with each other though
i<00:02:55.760> wouldn't<00:02:56.080> have<00:02:56.239> that<00:02:56.480> luxury<00:02:57.200> all<00:02:57.280> right<00:02:57.599> i
i wouldn't have that luxury all right i
i wouldn't have that luxury all right i
wouldn't<00:02:58.000> have<00:02:58.080> been<00:02:58.239> able<00:02:58.400> to<00:02:58.480> convey<00:02:58.879> so
wouldn't have been able to convey so
wouldn't have been able to convey so
little<00:02:59.519> information<00:03:00.560> what<00:03:00.720> my<00:03:00.959> language
little information what my language
little information what my language
would<00:03:01.599> have<00:03:01.760> forced<00:03:02.080> me<00:03:02.239> to<00:03:02.400> do<00:03:02.800> instead<00:03:03.120> of
would have forced me to do instead of
would have forced me to do instead of
just<00:03:03.440> telling<00:03:03.760> you<00:03:03.920> this<00:03:04.080> is<00:03:04.159> my<00:03:04.400> uncle<00:03:04.800> is<00:03:04.959> to
just telling you this is my uncle is to
just telling you this is my uncle is to
tell<00:03:05.200> you<00:03:05.360> a<00:03:05.440> tremendous<00:03:06.080> amount<00:03:06.400> of
tell you a tremendous amount of
tell you a tremendous amount of
additional<00:03:06.959> information
additional information
additional information
my<00:03:08.319> language<00:03:08.720> would<00:03:08.879> force<00:03:09.120> me<00:03:09.280> to<00:03:09.360> tell<00:03:09.599> you
my language would force me to tell you
my language would force me to tell you
whether<00:03:10.159> or<00:03:10.239> not<00:03:10.400> this<00:03:10.560> was<00:03:10.720> an<00:03:10.959> uncle<00:03:11.200> on<00:03:11.280> my
whether or not this was an uncle on my
whether or not this was an uncle on my
mother's<00:03:11.760> side<00:03:12.000> or<00:03:12.159> my<00:03:12.400> father's<00:03:12.720> side
mother's side or my father's side
mother's side or my father's side
whether<00:03:13.680> this<00:03:13.840> was<00:03:14.000> an<00:03:14.159> uncle<00:03:14.480> by<00:03:14.720> marriage<00:03:15.200> or
whether this was an uncle by marriage or
whether this was an uncle by marriage or
by<00:03:15.599> birth<00:03:16.319> and<00:03:16.560> if<00:03:16.720> this<00:03:16.879> man<00:03:17.120> was<00:03:17.360> my<00:03:17.519> father's
by birth and if this man was my father's
by birth and if this man was my father's
brother<00:03:18.640> whether<00:03:18.879> he<00:03:19.040> was<00:03:19.280> older<00:03:19.599> than<00:03:19.840> or
brother whether he was older than or
brother whether he was older than or
younger<00:03:20.239> than<00:03:20.480> my<00:03:20.640> father<00:03:21.440> all<00:03:21.680> of<00:03:21.760> this
younger than my father all of this
younger than my father all of this
information<00:03:22.560> is<00:03:22.720> obligatory<00:03:23.680> chinese
information is obligatory chinese
information is obligatory chinese
doesn't<00:03:24.480> let<00:03:24.640> me<00:03:24.879> ignore<00:03:25.280> it<00:03:25.519> and<00:03:25.760> in<00:03:25.840> fact<00:03:26.080> if
doesn't let me ignore it and in fact if
doesn't let me ignore it and in fact if
i<00:03:26.319> want<00:03:26.480> to<00:03:26.640> speak<00:03:27.040> correctly<00:03:27.760> chinese<00:03:28.159> forces
i want to speak correctly chinese forces
i want to speak correctly chinese forces
me<00:03:28.720> to<00:03:28.879> constantly<00:03:29.440> think<00:03:29.680> about<00:03:29.920> it
me to constantly think about it
me to constantly think about it
now<00:03:32.080> uh<00:03:32.400> that<00:03:32.720> fascinated<00:03:33.360> me<00:03:33.519> endlessly<00:03:34.080> as<00:03:34.239> a
now uh that fascinated me endlessly as a
now uh that fascinated me endlessly as a
child<00:03:35.040> but<00:03:35.280> what<00:03:35.519> fascinates<00:03:36.080> me<00:03:36.319> even<00:03:36.560> more
child but what fascinates me even more
child but what fascinates me even more
today<00:03:37.120> as<00:03:37.280> an<00:03:37.360> economist<00:03:38.159> is<00:03:38.319> that<00:03:38.480> some<00:03:38.640> of
today as an economist is that some of
today as an economist is that some of
these<00:03:38.959> same<00:03:39.200> differences<00:03:40.159> carry<00:03:40.480> through<00:03:40.640> to
these same differences carry through to
these same differences carry through to
how<00:03:41.040> languages<00:03:41.599> speak<00:03:41.920> about<00:03:42.239> time
how languages speak about time
how languages speak about time
so<00:03:43.680> for<00:03:43.840> example<00:03:44.560> if<00:03:44.720> i'm<00:03:44.879> speaking<00:03:45.200> in
so for example if i'm speaking in
so for example if i'm speaking in
english<00:03:45.680> i<00:03:45.840> have<00:03:46.000> to<00:03:46.159> speak<00:03:46.480> grammatically
english i have to speak grammatically
english i have to speak grammatically
differently<00:03:47.440> if<00:03:47.599> i'm<00:03:47.760> talking<00:03:48.080> about<00:03:48.480> past
differently if i'm talking about past
differently if i'm talking about past
rain<00:03:49.280> it<00:03:49.519> rained<00:03:49.840> yesterday<00:03:50.640> current<00:03:50.959> rain<00:03:51.280> it
rain it rained yesterday current rain it
rain it rained yesterday current rain it
is<00:03:51.599> raining<00:03:52.000> now<00:03:52.480> or<00:03:52.720> future<00:03:53.120> rain<00:03:53.360> it<00:03:53.519> will
is raining now or future rain it will
is raining now or future rain it will
rain<00:03:54.000> tomorrow<00:03:54.959> notice<00:03:55.360> that<00:03:55.760> english
rain tomorrow notice that english
rain tomorrow notice that english
requires<00:03:56.640> a<00:03:56.799> lot<00:03:56.959> more<00:03:57.200> information<00:03:57.680> with
requires a lot more information with
requires a lot more information with
respect<00:03:58.159> to<00:03:58.319> the<00:03:58.560> timing<00:03:58.959> of<00:03:59.120> events<00:03:59.920> why
respect to the timing of events why
respect to the timing of events why
because<00:04:00.640> i<00:04:00.799> have<00:04:00.959> to<00:04:01.040> consider<00:04:01.519> that<00:04:01.680> and<00:04:01.840> i
because i have to consider that and i
because i have to consider that and i
have<00:04:02.080> to<00:04:02.239> modify<00:04:02.720> what<00:04:02.959> i'm<00:04:03.120> saying<00:04:03.519> to<00:04:03.680> say<00:04:03.920> it
have to modify what i'm saying to say it
have to modify what i'm saying to say it
will<00:04:04.319> rain<00:04:04.640> it's
will rain it's
will rain it's
or<00:04:05.519> it's<00:04:05.680> going<00:04:06.000> to<00:04:06.159> rain<00:04:06.560> it's<00:04:06.799> simply<00:04:07.120> not
or it's going to rain it's simply not
or it's going to rain it's simply not
permissible<00:04:07.920> in<00:04:08.080> english<00:04:08.319> to<00:04:08.480> say<00:04:08.959> it<00:04:09.280> rain
permissible in english to say it rain
permissible in english to say it rain
tomorrow
tomorrow
tomorrow
in<00:04:10.959> contrast<00:04:11.439> to<00:04:11.519> that<00:04:11.920> that's<00:04:12.159> almost
in contrast to that that's almost
in contrast to that that's almost
exactly<00:04:13.040> what<00:04:13.200> you<00:04:13.360> would<00:04:13.519> say<00:04:13.680> in<00:04:13.840> chinese
exactly what you would say in chinese
exactly what you would say in chinese
a<00:04:15.040> chinese<00:04:15.439> speaker<00:04:16.000> can<00:04:16.160> basically<00:04:16.720> say
a chinese speaker can basically say
a chinese speaker can basically say
something<00:04:17.199> that<00:04:17.359> sounds<00:04:17.680> very<00:04:17.919> strange<00:04:18.320> to<00:04:18.400> an
something that sounds very strange to an
something that sounds very strange to an
english<00:04:18.799> speaker's<00:04:19.280> ears<00:04:20.000> they<00:04:20.160> can<00:04:20.400> say
english speaker's ears they can say
english speaker's ears they can say
yesterday<00:04:21.440> it<00:04:21.600> rained<00:04:22.240> now<00:04:22.479> it<00:04:22.639> rain<00:04:23.120> tomorrow
yesterday it rained now it rain tomorrow
yesterday it rained now it rain tomorrow
would<00:04:23.840> rain<00:04:24.479> in<00:04:24.639> some<00:04:24.880> deep<00:04:25.199> sense<00:04:25.680> chinese
would rain in some deep sense chinese
would rain in some deep sense chinese
doesn't<00:04:26.479> divide<00:04:27.120> up<00:04:27.199> the<00:04:27.360> time<00:04:27.680> spectrum<00:04:28.400> in
doesn't divide up the time spectrum in
doesn't divide up the time spectrum in
the<00:04:28.639> same<00:04:28.880> way<00:04:29.040> that<00:04:29.280> english<00:04:29.919> forces<00:04:30.400> us<00:04:30.560> to
the same way that english forces us to
the same way that english forces us to
constantly<00:04:31.360> do<00:04:31.919> uh<00:04:32.479> in<00:04:32.639> order<00:04:32.880> to<00:04:33.040> speak
constantly do uh in order to speak
constantly do uh in order to speak
correctly
correctly
correctly
is<00:04:35.040> this<00:04:35.280> difference<00:04:35.600> in<00:04:35.759> languages<00:04:36.479> only
is this difference in languages only
is this difference in languages only
between<00:04:37.199> very<00:04:37.440> very<00:04:37.680> distantly<00:04:38.160> related
between very very distantly related
between very very distantly related
languages<00:04:38.960> like<00:04:39.199> english<00:04:39.520> and<00:04:39.840> chinese
languages like english and chinese
languages like english and chinese
actually<00:04:41.040> no<00:04:41.440> so<00:04:41.680> many<00:04:42.000> of<00:04:42.080> you<00:04:42.240> know<00:04:42.560> in<00:04:42.639> this
actually no so many of you know in this
actually no so many of you know in this
room<00:04:43.040> that<00:04:43.199> english<00:04:43.520> is<00:04:43.680> a<00:04:43.759> germanic<00:04:44.240> language
room that english is a germanic language
room that english is a germanic language
what<00:04:45.360> you<00:04:45.520> may<00:04:45.680> not<00:04:45.919> have<00:04:46.080> realized<00:04:46.880> is<00:04:47.040> that
what you may not have realized is that
what you may not have realized is that
english<00:04:47.520> is<00:04:47.680> actually<00:04:48.000> an<00:04:48.240> outlier<00:04:48.960> it<00:04:49.120> is<00:04:49.280> the
english is actually an outlier it is the
english is actually an outlier it is the
only<00:04:49.840> germanic<00:04:50.320> language<00:04:51.040> that<00:04:51.199> requires
only germanic language that requires
only germanic language that requires
this<00:04:52.560> for<00:04:52.720> example<00:04:53.440> most<00:04:53.759> other<00:04:53.919> germanic
this for example most other germanic
this for example most other germanic
language<00:04:54.720> speakers<00:04:55.360> feel<00:04:55.680> completely
language speakers feel completely
language speakers feel completely
comfortable<00:04:56.720> talking<00:04:57.040> about<00:04:57.280> rain<00:04:57.520> tomorrow
comfortable talking about rain tomorrow
comfortable talking about rain tomorrow
by<00:04:58.240> saying<00:04:58.639> morgan<00:04:59.040> regnetas<00:05:00.240> quite
by saying morgan regnetas quite
by saying morgan regnetas quite
literally<00:05:00.800> to<00:05:00.960> an<00:05:01.120> english<00:05:01.520> ear<00:05:02.240> it<00:05:02.479> rained
literally to an english ear it rained
literally to an english ear it rained
tomorrow
tomorrow
tomorrow
this<00:05:04.320> led<00:05:04.639> me<00:05:05.120> to
this led me to
this led me to
as<00:05:06.560> a<00:05:06.639> behavioral<00:05:07.039> economist<00:05:07.520> to<00:05:07.600> an
as a behavioral economist to an
as a behavioral economist to an
intriguing<00:05:08.160> hypothesis<00:05:09.120> could<00:05:09.440> how<00:05:09.680> you
intriguing hypothesis could how you
intriguing hypothesis could how you
speak<00:05:10.240> about<00:05:10.560> time<00:05:10.880> could<00:05:11.039> how<00:05:11.280> your<00:05:11.440> language
speak about time could how your language
speak about time could how your language
forces<00:05:12.240> you<00:05:12.400> to<00:05:12.560> think<00:05:12.720> about<00:05:13.039> time<00:05:13.680> affect
forces you to think about time affect
forces you to think about time affect
your<00:05:14.240> propensity<00:05:14.800> to<00:05:14.960> behave<00:05:15.680> across<00:05:16.240> time
your propensity to behave across time
your propensity to behave across time
you<00:05:17.680> speak<00:05:18.000> english<00:05:18.560> a<00:05:18.800> future<00:05:19.199> language<00:05:20.160> and
you speak english a future language and
you speak english a future language and
what<00:05:20.720> that<00:05:21.039> means<00:05:21.280> is<00:05:21.440> that<00:05:21.600> every<00:05:21.919> time<00:05:22.160> you
what that means is that every time you
what that means is that every time you
discuss<00:05:22.800> the<00:05:22.960> future<00:05:23.280> or<00:05:23.440> any<00:05:23.600> kind<00:05:23.680> of<00:05:23.840> a
discuss the future or any kind of a
discuss the future or any kind of a
future<00:05:24.240> event<00:05:24.880> grammatically<00:05:25.520> you're<00:05:25.759> forced
future event grammatically you're forced
future event grammatically you're forced
to<00:05:26.240> cleave<00:05:26.720> that<00:05:26.960> from<00:05:27.120> the<00:05:27.280> present<00:05:28.000> and
to cleave that from the present and
to cleave that from the present and
treat<00:05:28.400> it<00:05:28.560> as<00:05:28.639> if<00:05:28.800> it's<00:05:28.960> something<00:05:29.280> viscerally
treat it as if it's something viscerally
treat it as if it's something viscerally
different
different
different
now<00:05:31.199> suppose<00:05:31.600> that<00:05:31.840> that<00:05:32.080> visceral
now suppose that that visceral
now suppose that that visceral
difference<00:05:33.280> makes<00:05:33.520> you<00:05:33.759> subtly<00:05:34.080> disassociate
difference makes you subtly disassociate
difference makes you subtly disassociate
the<00:05:34.960> future<00:05:35.280> from<00:05:35.440> the<00:05:35.600> present<00:05:36.000> every<00:05:36.240> time
the future from the present every time
the future from the present every time
you<00:05:36.560> speak<00:05:37.360> if<00:05:37.520> that's<00:05:37.840> true<00:05:38.320> and<00:05:38.479> it<00:05:38.560> makes
you speak if that's true and it makes
you speak if that's true and it makes
the<00:05:38.880> future<00:05:39.199> feel<00:05:39.440> like<00:05:39.600> something<00:05:39.919> more
the future feel like something more
the future feel like something more
distant<00:05:40.639> and<00:05:40.800> more<00:05:41.120> different<00:05:41.440> from<00:05:41.680> the
distant and more different from the
distant and more different from the
present<00:05:42.560> that's<00:05:42.800> going<00:05:42.960> to<00:05:43.039> make<00:05:43.199> it<00:05:43.360> harder
present that's going to make it harder
present that's going to make it harder
to<00:05:43.919> save
to save
to save
if<00:05:45.440> on<00:05:45.520> the<00:05:45.680> other<00:05:45.840> hand<00:05:46.000> you<00:05:46.160> speak<00:05:46.400> a
if on the other hand you speak a
if on the other hand you speak a
futureless<00:05:46.960> language<00:05:47.600> the<00:05:47.840> present<00:05:48.240> and<00:05:48.320> the
futureless language the present and the
futureless language the present and the
future<00:05:49.120> you<00:05:49.360> speak<00:05:49.680> about<00:05:49.840> them<00:05:50.080> identically
future you speak about them identically
future you speak about them identically
if<00:05:51.120> that<00:05:51.360> subtly<00:05:51.759> nudges<00:05:52.160> you<00:05:52.320> to<00:05:52.560> feel<00:05:52.800> about
if that subtly nudges you to feel about
if that subtly nudges you to feel about
them<00:05:53.280> identically<00:05:54.000> that's<00:05:54.320> going<00:05:54.400> to<00:05:54.479> make<00:05:54.639> it
them identically that's going to make it
them identically that's going to make it
easier<00:05:55.120> to<00:05:55.280> save
easier to save
easier to save
now<00:05:57.280> this<00:05:57.520> is<00:05:57.680> a<00:05:58.000> fanciful<00:05:58.479> theory<00:05:58.880> you<00:05:58.960> know
now this is a fanciful theory you know
now this is a fanciful theory you know
i'm<00:05:59.199> a<00:05:59.280> professor<00:05:59.680> i<00:05:59.840> get<00:06:00.160> paid<00:06:00.400> to<00:06:00.479> have
i'm a professor i get paid to have
i'm a professor i get paid to have
fanciful<00:06:01.120> theories
fanciful theories
fanciful theories
um
um
um
but<00:06:03.360> how<00:06:03.520> would<00:06:03.759> you<00:06:03.919> actually<00:06:04.240> go<00:06:04.400> about
but how would you actually go about
but how would you actually go about
testing<00:06:05.039> such<00:06:05.280> a<00:06:05.440> theory<00:06:06.000> well<00:06:06.319> what<00:06:06.560> i<00:06:06.639> did
testing such a theory well what i did
testing such a theory well what i did
with<00:06:07.039> n<00:06:07.440> was<00:06:07.840> to<00:06:08.400> access<00:06:08.800> the<00:06:08.960> linguistics
with n was to access the linguistics
with n was to access the linguistics
literature<00:06:10.400> and<00:06:10.720> and<00:06:11.039> interestingly<00:06:11.759> enough
literature and and interestingly enough
literature and and interestingly enough
there<00:06:12.240> are<00:06:12.400> pockets<00:06:12.880> of<00:06:13.039> futureless<00:06:13.680> language
there are pockets of futureless language
there are pockets of futureless language
speakers<00:06:14.800> situated<00:06:15.440> all<00:06:15.600> over<00:06:15.840> the<00:06:15.919> world
speakers situated all over the world
speakers situated all over the world
this<00:06:16.639> is<00:06:16.800> a<00:06:16.880> pocket<00:06:17.199> of<00:06:17.280> futureless<00:06:17.840> language
this is a pocket of futureless language
this is a pocket of futureless language
speakers<00:06:18.479> in<00:06:18.639> northern<00:06:18.960> europe
speakers in northern europe
speakers in northern europe
interestingly<00:06:20.800> enough<00:06:21.120> when<00:06:21.280> you<00:06:21.520> start<00:06:21.680> to
interestingly enough when you start to
interestingly enough when you start to
crank<00:06:22.080> the<00:06:22.240> data<00:06:22.720> these<00:06:23.039> pockets<00:06:23.440> of
crank the data these pockets of
crank the data these pockets of
futureless<00:06:24.000> language<00:06:24.400> speakers<00:06:24.800> all<00:06:25.039> around
futureless language speakers all around
futureless language speakers all around
the<00:06:25.440> world<00:06:26.080> turn<00:06:26.400> out<00:06:26.479> to<00:06:26.639> be<00:06:26.800> by<00:06:27.039> and<00:06:27.199> large
the world turn out to be by and large
the world turn out to be by and large
some<00:06:27.680> of<00:06:27.840> the<00:06:27.919> world's<00:06:28.400> best<00:06:28.800> savers
some of the world's best savers
some of the world's best savers
just<00:06:30.560> to<00:06:30.720> give<00:06:30.880> you<00:06:31.039> a<00:06:31.120> hint<00:06:31.440> of<00:06:31.520> that<00:06:31.919> let's
just to give you a hint of that let's
just to give you a hint of that let's
look<00:06:32.319> back<00:06:32.560> at<00:06:32.639> that<00:06:32.880> oecd<00:06:33.440> graph<00:06:33.680> that<00:06:33.759> we
look back at that oecd graph that we
look back at that oecd graph that we
were<00:06:34.080> talking<00:06:34.400> about
were talking about
were talking about
once<00:06:35.759> you<00:06:35.840> see<00:06:36.080> these<00:06:36.319> bars<00:06:36.639> are
once you see these bars are
once you see these bars are
systematically<00:06:37.520> taller<00:06:38.080> and<00:06:38.240> systematically
systematically taller and systematically
systematically taller and systematically
shifted<00:06:39.280> to<00:06:39.440> the<00:06:39.600> left<00:06:40.240> compared<00:06:40.639> to<00:06:40.800> these
shifted to the left compared to these
shifted to the left compared to these
bars<00:06:41.440> which<00:06:41.600> are<00:06:41.680> the<00:06:41.759> members<00:06:42.080> of<00:06:42.160> the<00:06:42.319> oecd
bars which are the members of the oecd
bars which are the members of the oecd
that<00:06:42.960> speak<00:06:43.280> future<00:06:43.680> languages
that speak future languages
that speak future languages
what<00:06:44.960> is<00:06:45.120> the<00:06:45.280> average<00:06:45.600> difference<00:06:46.000> here<00:06:46.560> five
what is the average difference here five
what is the average difference here five
percentage<00:06:47.280> points<00:06:47.520> of<00:06:47.600> your<00:06:47.759> gdp<00:06:48.319> saved<00:06:48.639> per
percentage points of your gdp saved per
percentage points of your gdp saved per
year<00:06:49.600> over<00:06:49.919> 25<00:06:50.400> years<00:06:50.800> that<00:06:51.039> has<00:06:51.280> huge
year over 25 years that has huge
year over 25 years that has huge
long-run<00:06:52.000> effects<00:06:52.319> on<00:06:52.400> the<00:06:52.560> wealth<00:06:52.800> of<00:06:52.880> your
long-run effects on the wealth of your
long-run effects on the wealth of your
nation
nation
nation
now<00:06:54.880> while<00:06:55.120> these<00:06:55.520> findings<00:06:56.000> are<00:06:56.160> suggestive
now while these findings are suggestive
now while these findings are suggestive
countries<00:06:57.360> can<00:06:57.520> be<00:06:57.600> different<00:06:57.919> in<00:06:58.000> so<00:06:58.160> many
countries can be different in so many
countries can be different in so many
different<00:06:58.639> ways<00:06:58.880> that<00:06:59.039> it's<00:06:59.199> very<00:06:59.440> very
different ways that it's very very
different ways that it's very very
difficult<00:07:00.240> sometimes<00:07:00.639> to<00:07:00.800> account<00:07:01.120> for<00:07:01.360> all
difficult sometimes to account for all
difficult sometimes to account for all
of<00:07:01.520> these<00:07:01.759> possible<00:07:02.160> differences
of these possible differences
of these possible differences
what<00:07:03.680> i'm<00:07:03.840> going<00:07:03.919> to<00:07:04.080> show<00:07:04.240> you<00:07:04.479> though<00:07:05.199> is
what i'm going to show you though is
what i'm going to show you though is
something<00:07:05.599> that<00:07:05.759> i've<00:07:05.840> been<00:07:06.000> engaging<00:07:06.479> in<00:07:06.639> for
something that i've been engaging in for
something that i've been engaging in for
a<00:07:06.880> year<00:07:07.360> which<00:07:07.599> is<00:07:07.759> trying<00:07:07.919> to<00:07:08.000> gather<00:07:08.400> all<00:07:08.560> of
a year which is trying to gather all of
a year which is trying to gather all of
the<00:07:08.880> largest<00:07:09.280> data<00:07:09.599> sets<00:07:09.840> that<00:07:09.919> we<00:07:10.080> have
the largest data sets that we have
the largest data sets that we have
access<00:07:10.560> to<00:07:10.800> our<00:07:11.120> as<00:07:11.360> economists<00:07:12.160> and<00:07:12.319> i'm
access to our as economists and i'm
access to our as economists and i'm
going<00:07:12.560> to<00:07:12.639> try<00:07:12.800> and<00:07:13.039> strip<00:07:13.360> away<00:07:13.680> all<00:07:13.919> of<00:07:14.000> those
going to try and strip away all of those
going to try and strip away all of those
possible<00:07:14.720> differences<00:07:15.759> hoping<00:07:16.080> to<00:07:16.240> get<00:07:16.400> this
possible differences hoping to get this
possible differences hoping to get this
relationship<00:07:17.199> to<00:07:17.360> break<00:07:18.000> all<00:07:18.080> right<00:07:18.400> and<00:07:18.560> just
relationship to break all right and just
relationship to break all right and just
in<00:07:18.960> summary<00:07:19.599> no<00:07:19.759> matter<00:07:20.080> how<00:07:20.319> far<00:07:20.560> i<00:07:20.800> push<00:07:21.039> this
in summary no matter how far i push this
in summary no matter how far i push this
i<00:07:21.759> can't<00:07:22.000> get<00:07:22.240> it<00:07:22.319> to<00:07:22.479> break<00:07:22.960> let<00:07:23.120> me<00:07:23.199> show<00:07:23.360> you
i can't get it to break let me show you
i can't get it to break let me show you
how<00:07:23.680> far<00:07:23.919> you<00:07:24.080> can<00:07:24.160> do<00:07:24.400> that
how far you can do that
how far you can do that
one<00:07:25.599> way<00:07:25.759> to<00:07:25.919> imagine<00:07:26.319> that<00:07:26.800> is<00:07:27.039> i<00:07:27.199> gather
one way to imagine that is i gather
one way to imagine that is i gather
large<00:07:28.000> data<00:07:28.319> sets<00:07:28.560> from<00:07:28.720> around<00:07:29.039> the<00:07:29.120> world<00:07:29.360> so
large data sets from around the world so
large data sets from around the world so
for<00:07:29.599> example<00:07:30.319> there's<00:07:30.560> the<00:07:31.039> survey<00:07:31.440> of<00:07:31.520> health
for example there's the survey of health
for example there's the survey of health
and<00:07:31.919> retirement<00:07:32.400> in<00:07:32.479> europe<00:07:33.280> from<00:07:33.520> this<00:07:33.759> data
and retirement in europe from this data
and retirement in europe from this data
set<00:07:34.560> you<00:07:34.800> actually<00:07:35.199> learn<00:07:35.440> that<00:07:35.599> retired
set you actually learn that retired
set you actually learn that retired
european<00:07:36.560> families<00:07:37.199> are<00:07:37.440> extremely<00:07:38.080> patient
european families are extremely patient
european families are extremely patient
with<00:07:38.560> survey<00:07:38.960> takers<00:07:39.759> so
with survey takers so
with survey takers so
so<00:07:42.080> imagine<00:07:42.479> that<00:07:42.720> you're<00:07:42.880> a<00:07:42.960> retired
so imagine that you're a retired
so imagine that you're a retired
household<00:07:44.000> in<00:07:44.080> belgium<00:07:44.479> someone<00:07:44.800> comes<00:07:45.039> to
household in belgium someone comes to
household in belgium someone comes to
your<00:07:45.280> front<00:07:45.520> door<00:07:46.000> excuse<00:07:46.479> me<00:07:46.960> uh<00:07:47.599> would<00:07:47.840> you
your front door excuse me uh would you
your front door excuse me uh would you
mind<00:07:48.319> if<00:07:48.479> i<00:07:48.800> peruse<00:07:49.199> your<00:07:49.360> stock<00:07:49.680> portfolio
mind if i peruse your stock portfolio
mind if i peruse your stock portfolio
do<00:07:51.360> you<00:07:51.440> happen<00:07:51.680> to<00:07:51.759> know<00:07:51.919> how<00:07:52.080> much<00:07:52.240> your
do you happen to know how much your
do you happen to know how much your
house<00:07:52.639> is<00:07:52.720> worth<00:07:52.960> you<00:07:53.120> mind<00:07:53.360> telling<00:07:53.759> me
house is worth you mind telling me
house is worth you mind telling me
would<00:07:54.639> you<00:07:54.800> happen<00:07:55.039> to<00:07:55.199> have<00:07:55.280> a<00:07:55.360> hallway
would you happen to have a hallway
would you happen to have a hallway
that's<00:07:55.919> more<00:07:56.080> than<00:07:56.240> 10<00:07:56.479> meters<00:07:56.800> long<00:07:57.440> if<00:07:57.599> you
that's more than 10 meters long if you
that's more than 10 meters long if you
do<00:07:57.840> would<00:07:58.000> you<00:07:58.160> mind<00:07:58.560> i<00:07:59.120> timed<00:07:59.599> how<00:08:00.000> long<00:08:00.240> it
do would you mind i timed how long it
do would you mind i timed how long it
took<00:08:00.479> you<00:08:00.639> to<00:08:00.720> walk<00:08:00.879> down<00:08:01.039> that<00:08:01.199> hallway<00:08:02.000> um
took you to walk down that hallway um
took you to walk down that hallway um
would<00:08:02.639> you<00:08:02.800> mind<00:08:03.120> squeezing<00:08:03.680> as<00:08:03.840> hard<00:08:04.080> as<00:08:04.240> you
would you mind squeezing as hard as you
would you mind squeezing as hard as you
can<00:08:04.560> in<00:08:04.639> your<00:08:04.800> dominant<00:08:05.280> hand<00:08:05.440> this<00:08:05.599> device<00:08:05.919> so
can in your dominant hand this device so
can in your dominant hand this device so
i<00:08:06.240> can<00:08:06.319> measure<00:08:06.560> your<00:08:06.800> grip<00:08:06.960> strength<00:08:07.360> how
i can measure your grip strength how
i can measure your grip strength how
about<00:08:07.759> blowing<00:08:08.160> into<00:08:08.319> this<00:08:08.560> tube<00:08:09.120> so<00:08:09.280> i<00:08:09.360> can
about blowing into this tube so i can
about blowing into this tube so i can
measure<00:08:09.759> your<00:08:10.000> lung<00:08:10.240> capacity<00:08:10.840> right<00:08:12.000> this
measure your lung capacity right this
measure your lung capacity right this
survey<00:08:12.560> takes<00:08:12.879> over<00:08:13.120> a<00:08:13.199> day
combine<00:08:16.800> that<00:08:17.360> okay<00:08:17.840> with<00:08:18.080> the<00:08:18.240> demographic
combine that okay with the demographic
combine that okay with the demographic
and<00:08:18.960> health<00:08:19.199> survey<00:08:19.599> collected<00:08:20.000> by<00:08:20.160> usaid<00:08:20.960> in
and health survey collected by usaid in
and health survey collected by usaid in
developing<00:08:21.680> countries
developing countries
developing countries
in<00:08:22.800> africa<00:08:23.280> for<00:08:23.440> example<00:08:24.160> where<00:08:24.720> which<00:08:25.039> that
in africa for example where which that
in africa for example where which that
survey<00:08:25.680> actually<00:08:26.000> can<00:08:26.160> go<00:08:26.319> so<00:08:26.479> far<00:08:26.639> as<00:08:26.720> to
survey actually can go so far as to
survey actually can go so far as to
measure<00:08:27.120> the<00:08:27.520> directly<00:08:27.919> measure<00:08:28.240> the<00:08:28.400> hiv
measure the directly measure the hiv
measure the directly measure the hiv
status<00:08:29.520> of<00:08:29.680> families<00:08:30.080> living<00:08:30.400> in<00:08:30.479> for<00:08:30.639> example
status of families living in for example
status of families living in for example
rural<00:08:31.360> nigeria<00:08:32.320> combine<00:08:32.719> that<00:08:32.880> with<00:08:33.039> the
rural nigeria combine that with the
rural nigeria combine that with the
world<00:08:33.519> value<00:08:33.919> survey<00:08:34.640> which<00:08:34.959> measures<00:08:35.360> the
world value survey which measures the
world value survey which measures the
political<00:08:35.919> opinions<00:08:36.560> uh<00:08:36.800> unfortunately<00:08:37.360> for
political opinions uh unfortunately for
political opinions uh unfortunately for
me<00:08:37.680> the<00:08:37.839> savings<00:08:38.240> behaviors<00:08:39.200> of<00:08:39.919> millions<00:08:40.320> of
me the savings behaviors of millions of
me the savings behaviors of millions of
families<00:08:40.959> in<00:08:41.120> hundreds<00:08:41.440> of<00:08:41.599> countries<00:08:41.919> around
families in hundreds of countries around
families in hundreds of countries around
the<00:08:42.320> world
the world
the world
take<00:08:43.680> all<00:08:43.839> of<00:08:44.000> that<00:08:44.240> data<00:08:44.800> combine<00:08:45.279> it<00:08:45.519> and
take all of that data combine it and
take all of that data combine it and
this<00:08:45.920> map<00:08:46.160> is<00:08:46.320> what<00:08:46.399> you<00:08:46.640> get<00:08:46.959> what<00:08:47.120> you<00:08:47.360> find
this map is what you get what you find
this map is what you get what you find
is<00:08:47.920> nine<00:08:48.240> countries<00:08:48.560> around<00:08:48.880> the<00:08:49.040> world<00:08:49.600> that
is nine countries around the world that
is nine countries around the world that
have<00:08:50.000> significant<00:08:50.640> native<00:08:50.880> populations
have significant native populations
have significant native populations
which<00:08:52.320> speak<00:08:52.640> both<00:08:53.040> futureless<00:08:53.920> and<00:08:54.320> future
which speak both futureless and future
which speak both futureless and future
languages<00:08:56.000> and<00:08:56.240> what<00:08:56.399> i'm<00:08:56.560> going<00:08:56.720> to<00:08:56.880> do<00:08:57.279> is
languages and what i'm going to do is
languages and what i'm going to do is
form<00:08:57.760> statistical<00:08:58.560> matched<00:08:59.040> pairs<00:08:59.760> between
form statistical matched pairs between
form statistical matched pairs between
families<00:09:00.880> that<00:09:01.040> are<00:09:01.200> nearly<00:09:01.680> identical<00:09:02.240> on
families that are nearly identical on
families that are nearly identical on
every<00:09:02.640> dimension<00:09:03.120> that<00:09:03.279> i<00:09:03.360> can<00:09:03.600> measure
every dimension that i can measure
every dimension that i can measure
okay<00:09:04.959> and<00:09:05.040> then<00:09:05.279> i'm<00:09:05.440> going<00:09:05.519> to<00:09:05.680> explore
okay and then i'm going to explore
okay and then i'm going to explore
whether<00:09:06.320> or<00:09:06.399> not<00:09:06.560> the<00:09:06.640> link<00:09:06.880> between<00:09:07.279> language
whether or not the link between language
whether or not the link between language
and<00:09:07.839> savings<00:09:08.399> holds<00:09:09.040> even<00:09:09.360> after<00:09:09.680> controlling
and savings holds even after controlling
and savings holds even after controlling
for<00:09:10.399> all<00:09:10.640> of<00:09:10.720> these
for all of these
for all of these
levels<00:09:12.320> what<00:09:12.560> are<00:09:12.640> the<00:09:12.720> characteristics<00:09:13.279> we
levels what are the characteristics we
levels what are the characteristics we
can<00:09:13.600> control<00:09:14.000> for<00:09:14.320> well<00:09:14.560> i'm<00:09:14.640> going<00:09:14.800> to<00:09:14.880> match
can control for well i'm going to match
can control for well i'm going to match
families<00:09:15.600> on<00:09:15.839> country<00:09:16.160> of<00:09:16.240> birth<00:09:16.480> and
families on country of birth and
families on country of birth and
resonance<00:09:17.279> the<00:09:17.440> demographics<00:09:18.240> what<00:09:18.480> sex
resonance the demographics what sex
resonance the demographics what sex
their<00:09:19.120> age<00:09:19.680> their<00:09:20.000> income<00:09:20.240> level<00:09:20.560> within
their age their income level within
their age their income level within
their<00:09:20.959> own<00:09:21.120> country<00:09:21.760> their<00:09:22.000> educational
their own country their educational
their own country their educational
achievement<00:09:23.360> a<00:09:23.440> lot<00:09:23.600> about<00:09:23.839> their<00:09:24.080> family
achievement a lot about their family
achievement a lot about their family
structure<00:09:25.279> it<00:09:25.360> turns<00:09:25.680> out<00:09:25.760> there<00:09:25.920> are<00:09:26.000> six
structure it turns out there are six
structure it turns out there are six
different<00:09:26.560> ways<00:09:26.800> to<00:09:26.880> be<00:09:27.040> married<00:09:27.440> in<00:09:27.519> europe
different ways to be married in europe
different ways to be married in europe
and<00:09:29.440> most<00:09:29.760> granularly<00:09:30.800> i<00:09:31.120> break<00:09:31.279> them<00:09:31.519> down<00:09:31.680> by
and most granularly i break them down by
and most granularly i break them down by
religion<00:09:32.560> where<00:09:32.880> there<00:09:33.120> are<00:09:33.279> 72<00:09:34.240> categories
religion where there are 72 categories
religion where there are 72 categories
of<00:09:34.880> religions<00:09:35.279> in<00:09:35.360> the<00:09:35.440> world<00:09:35.680> so<00:09:35.839> an<00:09:35.920> extreme
of religions in the world so an extreme
of religions in the world so an extreme
level<00:09:36.480> of<00:09:36.640> granularity<00:09:37.680> uh<00:09:37.920> there<00:09:38.160> are<00:09:38.320> 1.4
level of granularity uh there are 1.4
level of granularity uh there are 1.4
billion<00:09:39.600> different<00:09:39.839> ways<00:09:40.160> that<00:09:40.320> a<00:09:40.399> family<00:09:40.720> can
billion different ways that a family can
billion different ways that a family can
find<00:09:41.200> itself<00:09:42.000> okay<00:09:42.560> now<00:09:43.120> uh<00:09:43.760> effectively
find itself okay now uh effectively
find itself okay now uh effectively
everything<00:09:44.880> i'm<00:09:44.959> going<00:09:45.040> to<00:09:45.120> tell<00:09:45.279> you<00:09:45.440> from
everything i'm going to tell you from
everything i'm going to tell you from
now<00:09:45.839> on<00:09:46.080> is<00:09:46.240> only<00:09:46.560> comparing<00:09:47.120> these<00:09:47.360> basically
now on is only comparing these basically
now on is only comparing these basically
nearly<00:09:48.160> identical<00:09:48.640> families<00:09:49.200> it's<00:09:49.360> getting
nearly identical families it's getting
nearly identical families it's getting
as<00:09:49.839> close<00:09:50.160> as<00:09:50.240> possible<00:09:50.640> to<00:09:50.800> the<00:09:50.880> thought
as close as possible to the thought
as close as possible to the thought
experiment<00:09:51.760> of<00:09:51.920> finding<00:09:52.320> two<00:09:52.560> families<00:09:53.040> both
experiment of finding two families both
experiment of finding two families both
of<00:09:53.360> whom<00:09:53.600> live<00:09:53.839> in<00:09:53.920> brussels
of whom live in brussels
of whom live in brussels
who<00:09:55.200> are<00:09:55.279> identical<00:09:55.760> on<00:09:56.000> every<00:09:56.240> single<00:09:56.480> one<00:09:56.640> of
who are identical on every single one of
who are identical on every single one of
these<00:09:56.880> dimensions<00:09:57.600> but<00:09:57.760> one<00:09:57.920> of<00:09:58.000> whom<00:09:58.240> speaks
these dimensions but one of whom speaks
these dimensions but one of whom speaks
flemish<00:09:59.120> and<00:09:59.279> one<00:09:59.440> of<00:09:59.519> whom<00:09:59.760> speaks<00:10:00.080> french<00:10:00.640> or
flemish and one of whom speaks french or
flemish and one of whom speaks french or
two<00:10:01.120> families<00:10:01.440> that<00:10:01.600> live<00:10:01.839> in<00:10:01.920> a<00:10:02.080> rural
two families that live in a rural
two families that live in a rural
district<00:10:02.800> in<00:10:02.880> nigeria<00:10:03.680> one<00:10:03.920> of<00:10:04.000> whom<00:10:04.240> speaks
district in nigeria one of whom speaks
district in nigeria one of whom speaks
hausa<00:10:05.200> and<00:10:05.360> one<00:10:05.519> of<00:10:05.600> whom<00:10:05.839> speaks<00:10:06.160> igbo
hausa and one of whom speaks igbo
hausa and one of whom speaks igbo
now
now
now
even<00:10:08.880> after<00:10:09.279> all<00:10:09.519> of<00:10:09.600> this<00:10:09.760> granular<00:10:10.320> level<00:10:10.560> of
even after all of this granular level of
even after all of this granular level of
control
control
control
do<00:10:12.000> futureless<00:10:12.560> language<00:10:12.959> speakers<00:10:13.279> seem<00:10:13.519> to
do futureless language speakers seem to
do futureless language speakers seem to
save<00:10:13.920> more<00:10:14.560> yes<00:10:15.279> futures<00:10:15.680> language<00:10:16.079> speakers
save more yes futures language speakers
save more yes futures language speakers
even<00:10:16.800> after<00:10:17.040> this<00:10:17.200> level<00:10:17.519> of<00:10:17.600> control<00:10:18.240> are<00:10:18.480> 30
even after this level of control are 30
even after this level of control are 30
percent<00:10:19.120> more<00:10:19.279> likely<00:10:19.600> to<00:10:19.680> report<00:10:20.000> having
percent more likely to report having
percent more likely to report having
saved<00:10:20.560> in<00:10:20.720> any<00:10:20.880> given<00:10:21.200> year<00:10:21.760> does<00:10:21.920> this<00:10:22.160> have
saved in any given year does this have
saved in any given year does this have
cumulative<00:10:22.959> effects<00:10:23.440> yes<00:10:23.920> by<00:10:24.079> the<00:10:24.240> time<00:10:24.480> they
cumulative effects yes by the time they
cumulative effects yes by the time they
retire<00:10:25.120> futures<00:10:25.519> language<00:10:25.839> speakers<00:10:26.560> holding
retire futures language speakers holding
retire futures language speakers holding
constant<00:10:27.440> their<00:10:27.680> income<00:10:28.160> are<00:10:28.320> going<00:10:28.399> to
constant their income are going to
constant their income are going to
retire<00:10:28.959> with<00:10:29.200> 25<00:10:29.760> percent<00:10:30.160> more<00:10:30.320> in<00:10:30.480> savings
retire with 25 percent more in savings
retire with 25 percent more in savings
can<00:10:31.360> we<00:10:31.519> push<00:10:31.839> this<00:10:32.079> data<00:10:32.480> even<00:10:32.880> further
can we push this data even further
can we push this data even further
yes
yes
yes
because<00:10:35.120> i<00:10:35.440> just<00:10:35.600> told<00:10:35.760> you<00:10:35.920> we<00:10:36.079> actually
because i just told you we actually
because i just told you we actually
collect<00:10:36.720> a<00:10:36.880> lot<00:10:37.040> of<00:10:37.200> health<00:10:37.440> data<00:10:37.760> as
collect a lot of health data as
collect a lot of health data as
economists<00:10:38.880> now<00:10:39.279> how<00:10:39.680> can<00:10:39.839> we<00:10:40.000> think<00:10:40.160> about
economists now how can we think about
economists now how can we think about
health<00:10:41.120> behaviors<00:10:41.600> to<00:10:41.760> think<00:10:41.920> about<00:10:42.160> savings
health behaviors to think about savings
health behaviors to think about savings
well
well
well
think<00:10:44.160> about<00:10:44.399> smoking<00:10:44.800> for<00:10:44.959> example<00:10:45.680> smoking
think about smoking for example smoking
think about smoking for example smoking
is<00:10:46.320> in<00:10:46.399> some<00:10:46.640> deep<00:10:46.880> sense<00:10:47.279> negative<00:10:47.680> savings
is in some deep sense negative savings
is in some deep sense negative savings
right<00:10:48.720> if<00:10:48.880> savings<00:10:49.360> is<00:10:49.600> current<00:10:50.000> pain<00:10:50.560> in
right if savings is current pain in
right if savings is current pain in
exchange<00:10:51.120> for<00:10:51.279> future<00:10:51.600> pleasure<00:10:52.399> smoking<00:10:52.800> is
exchange for future pleasure smoking is
exchange for future pleasure smoking is
just<00:10:53.120> the<00:10:53.200> opposite<00:10:53.600> it's<00:10:53.760> current<00:10:54.079> pleasure
just the opposite it's current pleasure
just the opposite it's current pleasure
in<00:10:54.800> exchange<00:10:55.200> for<00:10:55.279> future<00:10:55.680> pain
in exchange for future pain
in exchange for future pain
what<00:10:56.880> we<00:10:57.040> should<00:10:57.279> expect<00:10:57.760> then<00:10:58.079> is<00:10:58.160> the
what we should expect then is the
what we should expect then is the
opposite<00:10:58.800> effect<00:10:59.440> and<00:10:59.519> that's<00:10:59.839> exactly<00:11:00.240> what
opposite effect and that's exactly what
opposite effect and that's exactly what
we<00:11:00.560> find<00:11:01.279> futureless<00:11:01.760> language<00:11:02.160> speakers<00:11:02.640> are
we find futureless language speakers are
we find futureless language speakers are
20<00:11:03.200> to<00:11:03.440> 24<00:11:04.240> less<00:11:04.560> likely<00:11:05.040> to<00:11:05.200> be<00:11:05.440> smoking<00:11:05.839> at
20 to 24 less likely to be smoking at
20 to 24 less likely to be smoking at
any<00:11:06.160> given<00:11:06.399> point<00:11:06.640> in<00:11:06.720> time<00:11:06.880> compared<00:11:07.200> to
any given point in time compared to
any given point in time compared to
identical<00:11:07.839> families<00:11:08.480> and<00:11:08.640> they're<00:11:08.880> going<00:11:08.959> to
identical families and they're going to
identical families and they're going to
be<00:11:09.200> 13<00:11:09.600> to<00:11:09.760> 70<00:11:10.160> percent<00:11:10.640> less<00:11:10.880> likely<00:11:11.200> to<00:11:11.360> be
be 13 to 70 percent less likely to be
be 13 to 70 percent less likely to be
obese<00:11:12.000> by<00:11:12.160> the<00:11:12.240> time<00:11:12.480> they<00:11:12.640> retire<00:11:13.440> and
obese by the time they retire and
obese by the time they retire and
they're<00:11:13.680> going<00:11:13.839> to<00:11:13.920> report<00:11:14.320> being<00:11:14.560> 21<00:11:15.360> more
they're going to report being 21 more
they're going to report being 21 more
likely<00:11:15.839> to<00:11:16.000> have<00:11:16.160> used<00:11:16.320> a<00:11:16.399> condom<00:11:16.800> in<00:11:16.880> their
likely to have used a condom in their
likely to have used a condom in their
last<00:11:17.200> sexual<00:11:17.600> encounter
last sexual encounter
last sexual encounter
i<00:11:18.880> could<00:11:19.120> go<00:11:19.279> on<00:11:19.519> and<00:11:19.680> on<00:11:19.839> with<00:11:20.000> the<00:11:20.079> list<00:11:20.320> of
i could go on and on with the list of
i could go on and on with the list of
differences<00:11:20.959> that<00:11:21.040> you<00:11:21.200> can<00:11:21.440> find<00:11:21.839> it's
differences that you can find it's
differences that you can find it's
almost<00:11:22.399> impossible<00:11:23.040> not<00:11:23.519> to<00:11:23.680> find<00:11:24.000> a<00:11:24.320> a
almost impossible not to find a a
almost impossible not to find a a
savings<00:11:25.120> behavior<00:11:25.440> for<00:11:25.519> which<00:11:25.760> the<00:11:26.160> this
savings behavior for which the this
savings behavior for which the this
strong<00:11:26.640> effect<00:11:26.959> isn't<00:11:27.279> present
strong effect isn't present
strong effect isn't present
my<00:11:28.720> linguistics<00:11:29.279> and<00:11:29.440> economics<00:11:29.920> colleagues
my linguistics and economics colleagues
my linguistics and economics colleagues
at<00:11:30.320> yale<00:11:30.640> and<00:11:30.800> i<00:11:31.120> are<00:11:31.360> just<00:11:31.600> starting<00:11:31.920> to<00:11:32.079> do
at yale and i are just starting to do
at yale and i are just starting to do
this<00:11:32.480> work<00:11:33.040> and<00:11:33.279> uh<00:11:33.600> really<00:11:33.920> explore<00:11:34.480> and
this work and uh really explore and
this work and uh really explore and
understand<00:11:35.680> the<00:11:35.839> ways<00:11:36.160> that<00:11:36.320> these<00:11:36.640> that
understand the ways that these that
understand the ways that these that
these<00:11:37.200> subtle<00:11:37.600> nudges<00:11:38.560> cause<00:11:38.959> us<00:11:39.200> to<00:11:39.760> think
these subtle nudges cause us to think
these subtle nudges cause us to think
more<00:11:40.399> or<00:11:40.480> less<00:11:40.720> about<00:11:40.959> the<00:11:41.120> future<00:11:41.760> every
more or less about the future every
more or less about the future every
single<00:11:42.399> time<00:11:42.640> we<00:11:42.880> speak
single time we speak
single time we speak
ultimately<00:11:44.959> the<00:11:45.120> goal<00:11:45.760> once<00:11:46.000> we<00:11:46.240> understand
ultimately the goal once we understand
ultimately the goal once we understand
how<00:11:47.040> these<00:11:47.279> subtle<00:11:47.600> effects<00:11:48.240> uh<00:11:48.480> can<00:11:48.640> change
how these subtle effects uh can change
how these subtle effects uh can change
our<00:11:49.120> decision<00:11:49.519> making<00:11:50.079> we<00:11:50.320> want<00:11:50.480> to<00:11:50.560> be<00:11:50.720> able
our decision making we want to be able
our decision making we want to be able
to<00:11:51.040> kind<00:11:51.200> of<00:11:51.600> provide<00:11:52.079> people<00:11:52.399> tools<00:11:53.040> so<00:11:53.200> that
to kind of provide people tools so that
to kind of provide people tools so that
they<00:11:53.519> can<00:11:53.760> consciously<00:11:54.320> make<00:11:54.480> themselves
they can consciously make themselves
they can consciously make themselves
better<00:11:55.279> savers
better savers
better savers
and<00:11:56.720> more<00:11:57.040> conscious<00:11:57.519> investors<00:11:58.000> in<00:11:58.079> their
and more conscious investors in their
and more conscious investors in their
own<00:11:58.399> future
own future
own future
thank<00:11:59.920> you<00:12:00.079> very<00:12:00.320> much
thank you very much
thank you very much
[Music]
you
Keith Chen, language, money, economics, ted, ted-ed, ted ed, tededucation
