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Sometimes common sense has to be taught. Of course they do know how percentages, probabilities and so on work. But they fail to do so when it comes to money. I
by lis 12y ago
Sometimes common sense has to be taught. Of course they do know how percentages, probabilities and so on work. But they fail to do so when it comes to money.
I actually doubt that this is (in most cases) due to greed. Many people just don't have a feeling for the relation between risk and promised reward.
- justincormack 12y agoNot sure, I think it is greed related. People assume that money creates more money just like that. One person in the article didn't trust banks post crisis. I guess people do assume that the financial services business makes vast amounts of money out of money, rather than largely just taking proportions of said money away.