Skip Navigation
Megan McArdle

Megan McArdle - Megan McArdle is a senior editor for The Atlantic who writes about business and economics. She has worked at three start-ups, a consulting firm, an investment bank, a disaster recovery firm at Ground Zero, and The Economist. More

Megan was born and raised on the Upper West Side of Manhattan, and yes, she does enjoy her lattes, as well as the occasional extra-dry skim-milk cappuccino. Her checkered work history includes three start-ups, four years as a technology project manager for a boutique consulting firm, a summer as an associate at an investment bank, and a year spent as sort of an executive copy girl for one of the disaster-recovery firms at Ground Zero … all before the age of 30.

While working at Ground Zero, Megan started Live From the WTC, a blog focused on economics, business, and cooking. She may or may not have been the first major economics blogger, depending on whether we are allowed to throw outlying variables such as Brad Delong out of the set. From there it was but a few steps down the slippery slope to freelance journalism. She has worked in various capacities for The Economist, where she wrote about economics and oversaw the founding of Free Exchange, the magazine's economics blog. She has also maintained her own blog, Asymmetrical Information, which moved to The Atlantic, along with its owner, in August 2007.

Megan holds a bachelor's degree in English literature from the University of Pennsylvania and an M.B.A. from the University of Chicago. After a lifetime as a New Yorker, she now resides in northwest Washington, D.C., where she is still trying to figure out what one does with an apartment larger than 400 square feet.

What to do? What to do?

By Megan McArdle
Nov 29 2007, 3:27 PM ET Comment

Leaving aside race and IQ (and that last post comes quite a bit closer than I am comfortable with to touching the subject with the proverbial ten-foot pole), IQ matters for social policy. We do need to know whether g, the general intelligence factor that IQ is supposed to measure exists, how much of it is simply genetic, and how much more of it consists of environmental factors that we can reasonably change.

Because, assuming that it exists, but that the biggest problem for low-income children is environment, I don't know what sort of policy interventions this reasonably implies. Contrary to the glowing paeans to early childhood interventions that I frequently hear when I talk about schools, as far as I know the gold standard of early childhood interventions was the Perry Preschool Project, and intensive preschool program for three and four year old children run in the 1960s. The results, while admirable, were extremely expensive (contra that website, I calculate, using the Rand results, that the cost per child was about $18,500 per year in today's dollars). This bought lower poverty rates, less teen pregnancy, and lower incarceration rates. But it helped establish the kids in the bottom tier of the working class, with median incomes in the range of $20K. It did not come close to bridging the gap between those kids and the world of the middle class.

Even earlier interventions might help somewhat, but the earlier you go, the more problematic such interventions become. The younger the kids are, the more individual attention they require, which is why preschool is more expensive than fifth grade. Even if you're willing to pay for it, where are you going to find these millions of highly qualified early childhood experts to become, in effect, the surrogate parents to these children?

Not that I'm against trying--early childhood intervention seems to me, like schooling in general, to be one of those goods that society has an obligation to provide children if their parents are incapable. But as I've written before, good early childhood programs have enormous scale problems; I'm not sure how we overcome them.

Presented by

More at The Atlantic

Can Full-Metal jousting Become the Next Ultimate Fighting Championship? Can Full-Metal Jousting Become the Next UFC?
Love Stinks: An Economic Manifesto Love Stinks: An Economic Manifesto
The fEARLESSness of Jeremy Lin The Fearlessness of Jeremy Lin
The 10 Best and 10 Worst States for High-Tech Business The 10 Best States for High-Tech Business
5 Lessons From the Rise of the BRICs 5 Lessons From the World's Great Rising Economies

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register.
blog comments powered by Disqus
Special Report
The Next Global Economies Reuters The Next Global Economies
Lessons from the BRICs — and a look at which developing countries are on the rise. Read more ›
View All Correspondents

The Biggest Story in Photos

Valentine's Day 2012

Feb 14, 2012

Subscribe Now

SAVE 59%! 10 issues JUST $2.45 PER COPY

Facebook

Newsletters

Sign up to receive our free newsletters

(sample)

(sample)

(sample)

(sample)

Megan McArdle
from the Magazine

Why Companies Fail

GM’s stock price has sunk by a third since its IPO. Why is corporate turnaround so difficult…

The Graduates

Busted banking careers, crashed consultants, and shrunken incomes: the author attends her 10-year…

Romney’s Business

The Republican contender touts his business experience—but does it really matter?