Given that U.S. authorities are reluctant to call a recession what it is, I find a new post on the Freakonomics blog - about the prevalence of financial illiteracy - pretty sobering. Stephen J. Dubner cites how three easy-peasy-looking questions on finance have proven difficult for a great many people, and writes on how he has some sympathy for them:
But here’s my point: I’m not exactly undereducated. I had 13 years of public schooling, 4 years of college, and another 2 years of graduate school — and after all that schooling, I don’t know if I learned enough to answer all three of [researcher Annamaria] Lusardi’s questions correctly. The subjects simply didn’t come up. Just as they apparently didn’t for the two-thirds of the older respondents to Lusardi’s questions.
The rest is here.
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