Economic Illiteracy

Illiteracy. Generally we think of this word in terms of simple reading and writing. Some have changed the phraseology to ‘functional illiteracy.’ I suppose this means that a person knows the alphabet, can discern some words, and can perhaps sign their name. People are ‘functionally illiterate’ when their comprehension of reading impairs their ability to function in a complex society. If we apply this axiom to our economy, we might easily conclude that most of us are economically functionally illiterate.