28.4.05

SO MUCH WORK TO DO, SO LITTLE TIME. The National Council on Economic Education's latest survey of economic literacy(*) among high schoolers and adults is available. I want to revisit that survey again, after having given it a bit more careful reading. The New York Times has an article on the survey, which, by mixing interpretation with reporting, draws the ire of King at SCSU Scholars, William Polley, and Don at Cafe Hayek.

Here's a thought for advocates of paternalism on the grounds that some agents will make the wrong decision, from Cafe Hayek:
A person kept from ever swimming in the deepest part of the pool ought not be judged to be an inherently poor swimmer because he cannot today do more than dog paddle in shallow water.
(*)At the March meeting of the Illinois Council on Economic Education, a colleague let me know that there is a quest within the council to find a replacement for the term "literacy" in economic literacy and financial literacy, account the perceived pejorative of the corollary "illiteracy." I'd like to find a different word in order to save "literacy" for describing the state of being able to read and write.

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