A group of economists, some of whom I know, get together with Dubner to talk about both research on raising children and about their own choices on Freakonomics radio.
The research suggests that parents matter only modestly to educational and earnings outcomes, and that much of the guilt-induced investment of time and money by striving middle and upper-middle class parents is likely a waste unless it also yields a current utility payoff. What, it seems, that parents can do is affect their children's socialization, which is to say, how well they play with others in the broad sense.
At the same time, many of the economists on the show don't follow the research and still over-invest. What can you do?
The transcript is here; I could not find the audio but maybe you can.
Aside: I'm still trying to picture Bruce Sacerdote as a hedge fund manager.
Hat tip: Tanya Byker, parent and economist-in-training