I originally wrote this in October 2007 and it was first published in OVO: Money. It has become increasingly relevant.

Since the colonial period, the United States has been fighting to control currency. In fact, this battle was part of the foundation of the country. Prior to 1764, colonists issued “Bills of Credit” to deal with a shortage of hard currency. Some were issued by “land banks” and backed by the value of land. Others were merely promises of credit. [1] In 1764 the British Parliment passed the Currency Act, which prohibited the use of these Bills of Credit. This caused significant economic hardship for the colonies, and helped set the stage for the Revolution. [2]

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Ten years after graduation, high-school students who had been rated as conscientious and cooperative by their teachers were earning more than classmates who had similar test scores but fewer social skills, said a new University of Illinois study.

The study’s findings challenge the idea that racial, ethnic, and socioeconomic gaps in educational attainment and earnings can be narrowed solely by emphasizing cognitive skills, said Christy Lleras, a University of Illinois assistant professor of human and community development.

“It’s important to note that good schools do more than teach reading, writing, and math. They socialize students and provide the kinds of learning opportunities that help them to become good citizens and to be successful in the labor market,” she said.

Full Story: Science Daily

(via OVO)