With all of the hullabaloo in Washington over the debt ceiling, it reminds me of yet another area where our educational system fails our students, and ultimately our country. For the most part, we don’t teach students how money works.
We assume that money is merely an application of math, but it is a system just like Euclidian math, or grammar or stoichiometry are systems for doing tasks. Unless you take an elective or are a banking/finance or related major, you are not exposed to how our monetary system works, how wealth is created and destroyed, how the different areas of the economy have constructive and destructive interference patterns just like light or waves, and so on.
