Tuesday, August 12, 2008

It Pays to be Conservative.

Literally (Paul Kedrosky). Apparently Conservative mutual and hedgefund managers do marginally better than Liberal ones:

The authors discover that the coefficient for Democratic fund managers is 0.061% compared to the 0.092% for Republicans, which amounts to a 36 basis points a year difference.
(Yes, it's tiny but it's still statistically relevant). Plus it means you're happier too!
Liberals, claim New York University psychologists Jaime Napier and John Tost, have a tougher time rationalising social and economic inequality than conservatives...conservatives mix a martini and hit the country club, while liberals write angry letters and stage protests.

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