Hope might seem like the business of philosophers and motivational speakers. But economists, too, are exploring the power of aspirations.
More than 800 million people in the world live in extreme poverty, surviving on less than $1.90 a day. Interventions usually focus on providing tangible resources, such as access to clean water, nutrition, health care, education and a viable income.
But new research from economists in the College of Agricultural and Environmental Sciences highlights a psychological asset that could be equally important: hope.