Going through the summer issue of HBR I found the following example from an American survey:
Imagine that the interest rate on your savings account was 1% per year and inflation was 2% per year. After 1 year, how much would you be able to buy with the money in this account?
a. more than today
b. exactly the same
c. less than today
33% answered incorrectly or did not know.
This happened to be targeting Americans, but I doubt the results are significantly different for any other nationality. It just shows that the average person is not on top of basic economics. Something is not quite right in how we focus education, information and news.
Hajk & Hallrenovering
1 day ago
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