True To Their Principles

4 06 2017

Downtown; Denver; Paris

Recipe:  Four cups cynicism, and two fast food mascots-caricatures.  Mash together, bake at 450 for an hour.  Makes one blog post.

***

And I agree.

Two kinds of classes that need to be in as many high schools as possible but rarely are:

(1) Personal finance

(2) Probability and statistics

Why aren’t they?

Well, I can tell you right away why prob/stat isn’t.  It’s because K-12 education is funded in part through a de facto tax on people who are unwilling or unable to learn prob/stat, that is, the state lottery.  If public schools started teaching prob/stat, then they’ll crank out students who won’t play the state lottery, and therefore, won’t be helping to fund public schools.  Likewise, Ronald McDonald isn’t going to tell you about how ground beef causes clogged arteries.

I suspect the lack of real personal finance education also plays into something of the same dynamic.  One of the reasons stated in this article for the need for more and better personal finance education is burgeoning student loan debt.  But, education is an industry, anyone involved in it is going to tell you to partake as much of it as possible.  Likewise, Colonel Sanders wants you all the time to eat more fried chicken, not less, and has every incentive to make you think that eating more will do nothing but benefit you, and has no incentive to make you think that you need to eat less.  If high schools started teaching personal finance, then high school students might start thinking about their college decisions in light of their future debt portfolio, which won’t be good for the tertiary education industry.

Organizations are true to their principles.

So, no personal finance, and no prob/stat for you, 15-year olds.  Now, get back to work on your real necessary important school work, learning about how transgenders are oppressed all the time and everywhere.

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7 responses

4 06 2017
sondjata

Eh, if your argument about prob-stats was correct there would be a lot of people in casinos crushing BlackJack tables but they’re not, trust me. Prob is taught, just to those who are bright enough to [probably] pass and most of those will use it for esoteric things like AI and genetics.

Per personal finance, I’ll agree. The less people know about personal finance the more bad decisions they make about money, which is good for businesses trying to sell them things.

4 06 2017
countenance

It takes some very elite prob-stat skills to beat the house at bj.

4 06 2017
sondjata

No, not really. An IBM computer did most of the hard work.

4 06 2017
Alex the Goon

One in five U.S. teenagers lacks basic financial literacy skills
Replacing them as a workforce with foreigners isn’t helping the kids’ finances – without which, they have no need for “financial literacy.”
I have a friend with a Math degree, who plays the lotto when it gets over 100 mil, and chides me for not playing. Frequently talks about what house or watch he’d buy — but only if he won the lottery.

4 06 2017
sondjata

He’s actually on the right path. It is actually best to play lotteries when they reach a certain jackpot, however you need a rather large amount of bank to buy up all the combinations ( or at least the vast majority of them). There are/were crews that did such a thing.

And thus lies the crux of the problem. Beatable “games” require relatively large bank. Relatively smart people with impulse control who have access to said bank tend to do quite well.

4 06 2017
Alex the Goon

He doesn’t do that. When the pot gets fat enough, he buys one or five tickets. As if 100M is worth the $5 risk, but $10M isn’t.
As for the buy-all-numbers angle, there’s no guarantee you won’t be sharing the jackpot with one or more other winners (or other hedge fund operators who also bought every number).
I hate the whole racket anyway, as the proceeds (direct: ticket sales, and indirect: taxes on winnings) fund terrorism. And to a lesser degree, the 5% commission to the terrorists at 7-11. The only way I would ever make a run at it, is if I was skilled at remote viewing, which I’m 101% certain I never could do.

5 06 2017
John Vawter

California didn’t get the lottery until late 1985. I graduated HS earlier that year. Probability and statistics weren’t even offered courses at my HS, so I didn’t take them until college.

It's your dime, spill it. And also...NO TROLLS ALLOWED~!

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