3 ms·

"Railroad Tycoon" taught the gen-x generation to read and manipulate the various standard financial reports as kids. For some cultural reason we don't teach ki

by VLM 6y ago

"Railroad Tycoon" taught the gen-x generation to read and manipulate the various standard financial reports as kids. For some cultural reason we don't teach kids how, for example, in the long run, income statements interact with balance statements until at least their 20s and even then we limit the knowledge to a small elite, although I was an expert on reading financial reports by age 10 due to playing RRT. Certainly the math and logical concepts are not difficult for kids to learn. Why do we intentionally limit "the masses" ability to understand how businesses are financed? Because knowledge is power... Ability to read financial reports is not much knowledge and not much power but its greedily guarded...

NoOneNew 6y ago
Oh shit... I used to play railroad tycoon all the time as a kid. That and simcity. It never dawned on me until you said it, I never had an issue understanding finance reports unlike a lot of my peers. I never understood how some people were completely lost when looking at one. Damn, it's an interesting idea if those types of games really helped folks that much to understand more serious, and boring, concepts. Huh... my econ anecdote seems a lot more tame now when it comes to the implications of certain games on society.
ryandrake 6y ago
I’m all for basic financial literacy. I think things like how to balance your checkbook/bank account and how to do your taxes should be taught in school, and earlier, because everyone needs to do this. That said, very few people will ever have to read a financial statement in their life, and even fewer will have to produce one. This seems like a very niche skill that you’re only going to need if you run your own business, or if you go into finance or pick stocks or something. It’s fine to wait and only teach it to people going that direction in their careers.
fendy3002 6y ago
> Why do we intentionally limit "the masses" ability to understand how businesses are financed Someone in online forum (reddit iirc) said that even if they teach it, not many will follow. So I guess that demand isn't that high to begin with. However if game or interactive actions can somehow teach it, it will reach many more people than lessons.

by VLM 6y ago

NoOneNew 6y ago

Oh shit... I used to play railroad tycoon all the time as a kid. That and simcity. It never dawned on me until you said it, I never had an issue understanding finance reports unlike a lot of my peers. I never understood how some people were completely lost when looking at one. Damn, it's an interesting idea if those types of games really helped folks that much to understand more serious, and boring, concepts. Huh... my econ anecdote seems a lot more tame now when it comes to the implications of certain games on society.

ryandrake 6y ago

I’m all for basic financial literacy. I think things like how to balance your checkbook/bank account and how to do your taxes should be taught in school, and earlier, because everyone needs to do this. That said, very few people will ever have to read a financial statement in their life, and even fewer will have to produce one. This seems like a very niche skill that you’re only going to need if you run your own business, or if you go into finance or pick stocks or something. It’s fine to wait and only teach it to people going that direction in their careers.

fendy3002 6y ago

> Why do we intentionally limit "the masses" ability to understand how businesses are financed Someone in online forum (reddit iirc) said that even if they teach it, not many will follow. So I guess that demand isn't that high to begin with. However if game or interactive actions can somehow teach it, it will reach many more people than lessons.