There is education and "education". I think the general understanding what it means to be educated (in this context) is that the people have been exposed differ

There is education and "education". I think the general understanding what it means to be educated (in this context) is that the people have been exposed different philosophical worldviews, from the left to right, and they can choose from these. In this sense, middle-class is often uneducated, despite receiving education. For example, neoclassical economics was (and still is) often taught in economic schools at the expense of economic history and political economy, which are more colorful. How many basic economic textbooks talk about Cambridge Capital Controversy before using word "capital"? > For a contemporary example, just look at MMT and the mother of all bubbles forming right now. A simple man might say if you print more money, money will be worth less. He would be at a high level quite right. A simple man might think that MMT is the cause, but it is rather an explanation of these bubbles. In MMT, money are endogenous, and the bubble originates outside of the government control. The people who applied QE knew very well, that the neoclassical monetarist theory is no use, because they came from praxis (central banks). They were educated in the practice, not in theory, and it told them that theory is useless (and dangerous). Of course they could have used helicopter money than QE to banks with the same or even greater effect (as Steve Keen recommended), but it wasn't quite in their self-interest. So the problem with "simple man" is that he assumes there are only two sides in the argument. The crisis of 2008 itself shows there are not - there was neoclassical monetarists and people believing in them, despite this being empirically wrong; then there was central bankers (and other politicians at the revolving door), who knew better, wanted to save the economy, but didn't care about the common man; and finally, there was a common man, who got into debt, because he was told so, and now was confused why banks are being saved and not him. So he opened economic textbook, found about Friedman and Hayek, and was like, ha, I knew you're doing something nefarious!