Could-your-language-affect-your-ability-to-save-mo

Couldyourlanguageaffectyourabilitytosavemoney？00:12Theglobaleconomicfinancialcrisishasreignitedpublicinterestinsomethingthat'sactuallyoneoftheoldestquestionsineconomics,datingbacktoatleastbeforeAdamSmith.Andthatis,whyisitthatcountrieswithseeminglysimilareconomiesandinstitutionscandisplayradicallydifferentsavingsbehavior?00:31Now,manybrillianteconomistshavespenttheirentirelivesworkingonthisquestion,andasafieldwe'vemadeatremendousamountofheadwayandweunderstandalotaboutthis.WhatI'mheretotalkwithyouabouttodayisanintriguingnewhypothesisandsomesurprisinglypowerfulnewfindingsthatI'vebeenworkingonaboutthelinkbetweenthestructureofthelanguageyouspeakandhowyoufindyourselfwiththepropensitytosave.Letmetellyoualittlebitaboutsavingsrates,alittlebitaboutlanguage,andthenI'lldrawthatconnection.01:04Let'sstartbythinkingaboutthemembercountriesoftheOECD,ortheOrganizationofEconomicCooperationandDevelopment.OECDcountries,byandlarge,youshouldthinkabouttheseastherichest,mostindustrializedcountriesintheworld.AndbyjoiningtheOECD,theywereaffirmingacommoncommitmenttodemocracy,openmarketsandfreetrade.Despiteallofthesesimilarities,weseehugedifferencesinsavingsbehavior.01:30Soallthewayoverontheleftofthisgraph,whatyouseeismanyOECDcountriessavingoveraquarteroftheirGDPeveryyear,andsomeOECDcountriessavingoverathirdoftheirGDPperyear.HoldingdowntherightflankoftheOECD,allthewayontheotherside,isGreece.Andwhatyoucanseeisthatoverthelast25years,Greecehasbarelymanagedtosavemorethan10percentoftheirGDP.Itshouldbenoted,ofcourse,thattheUnitedStatesandtheU.K.arethenextinline.02:01Nowthatweseethesehugedifferencesinsavingsrates,howisitpossiblethatlanguagemighthavesomethingtodowiththesedifferences?Letmetellyoualittlebitabouthowlanguagesfundamentallydiffer.Linguistsandcognitivescientistshavebeenexploringthisquestionformanyyearsnow.AndthenI'lldrawtheconnectionbetweenthesetwobehaviors.02:21ManyofyouhaveprobablyalreadynoticedthatI'mChinese.IgrewupintheMidwestoftheUnitedStates.AndsomethingIrealizedquiteearlyonwasthattheChineselanguageforcedmetospeakaboutand--infact,morefundamentallythanthat--eversoslightlyforcedmetothinkaboutfamilyinverydifferentways.02:39Now,howmightthatbe?Letmegiveyouanexample.SupposeIweretalkingwithyouandIwasintroducingyoutomyuncle.YouunderstoodexactlywhatIjustsaidinEnglish.IfwewerespeakingMandarinChinesewitheachother,though,Iwouldn'thavethatluxury.Iwouldn'thavebeenabletoconveysolittleinformation.Whatmylanguagewouldhaveforcedmetodo,insteadofjusttellingyou,Thisismyuncle,istotellyouatremendousamountofadditionalinformation.Mylanguagewouldforcemetotellyouwhetherornotthiswasanuncleonmymother'ssideormyfather'sside,whetherthiswasanunclebymarriageorbybirth,andifthismanwasmyfather'sbrother,whetherhewasolderthanoryoungerthanmyfather.Allofthisinformationisobligatory.Chinesedoesn'tletmeignoreit.Andinfact,ifIwanttospeakcorrectly,Chineseforcesmetoconstantlythinkaboutit.03:27Now,thatfascinatedmeendlesslyasachild,butwhatfascinatesmeevenmoretodayasaneconomististhatsomeofthesesamedifferencescarrythroughtohowlanguagesspeakabouttime.Soforexample,ifI'mspeakinginEnglish,IhavetospeakgrammaticallydifferentlyifI'mtalkingaboutpastrain,Itrainedyesterday,currentrain,Itisrainingnow,orfuturerain,Itwillraintomorrow.NoticethatEnglishrequiresalotmoreinformationwithrespecttothetimingofevents.Why?BecauseIhavetoconsiderthatandIhavetomodifywhatI'msayingtosay,Itwillrain,orIt'sgoingtorain.It'ssimplynotpermissibleinEnglishtosay,Itraintomorrow.04:07Incontrasttothat,that'salmostexactlywhatyouwouldsayinChinese.AChinesespeakercanbasicallysaysomethingthatsoundsverystrangetoanEnglishspeaker'sears.Theycansay,Yesterdayitrain,Nowitrain,Tomorrowitrain.Insomedeepsense,Chinesedoesn'tdivideupthetimespectruminthesamewaythatEnglishforcesustoconstantlydoinordertospeakcorrectly.04:31Isthisdifferenceinlanguagesonlybetweenvery,verydistantlyrelatedlanguages,likeEnglishandChinese?Actually,no.Somanyofyouknow,inthisroom,thatEnglishisaGermaniclanguage.WhatyoumaynothaverealizedisthatEnglishisactuallyanoutlier.ItistheonlyGermaniclanguagethatrequiresthis.Forexample,mostotherGermaniclanguagespeakersfeelcompletelycomfortabletalkingaboutraintomorrowbysaying,Morgenregnetes,quiteliterallytoanEnglishear,Itraintomorrow.05:00Thisledme,asabehavioraleconomist,toanintriguinghypothesis.Couldhowyouspeakabouttime,couldhowyourlanguageforcesyoutothinkabouttime,affectyourpropensitytobehaveacrosstime?YouspeakEnglish,afuturedlanguage.Andwhatthatmeansisthateverytimeyoudiscussthefuture,oranykindofafutureevent,grammaticallyyou'reforcedtocleavethatfromthepresentandtreatitasifit'ssomethingviscerallydifferent.Nowsupposethatthatvisceraldifferencemakesyousubtlydissociatethefuturefromthepresenteverytimeyouspeak.Ifthat'strueanditmakesthefuturefeellikesomethingmoredistantandmoredifferentfromthepresent,that'sgoingtomakeithardertosave.If,ontheotherhand,youspeakafuturelesslanguage,thepresentandthefuture,youspeakaboutthemidentically.Ifthatsubtlynudgesyoutofeelaboutthemidentically,that'sgoingtomakeiteasiertosave.05:52Nowthisisafancifultheory.I