Here’s a map of financial literacy:
I’ve written about this particular survey before. And my question remains the same: does this map show that financial literacy is lower in emerging markets, or rather that the survey was asking the wrong questions?
Spoiler alert: my bet is the latter. Which I explained here.
Rolling Alpha posts opinions on finance, economics, and sometimes things that are only loosely related. Follow me on Twitter @RollingAlpha, and on Facebook at www.facebook.com/rollingalpha. Also, check out the RA podcast on iTunes: The Story of Money.
Gene February 22, 2018 at 20:29
Obviously the skill and intellect required to maintain wealth are correlated with the possession of wealth. The fact that the report finds that richer nations are financially literate only means it’s completely uninteresting. Like finding that richer nations are richer. Or that they have more riches.
The interesting question is where and how the correlation is violated — is there a state dispossessing its literate citizens of wealth or there one bestowing wealth on its illiterates?Reply