A little financial education can be a dangerous thing, says one MIT professor of management. It gives investors a false sense of confidence in a world where complexity rules. “Perhaps better financial literacy among the public would help many people avoid such poor decisions. But increasing knowledge among investors can actually lead to unintended negative consequences, claims Gustavo Manso, an associate professor at the MIT Sloan School of Management, in a new working paper. Indeed, Manso and his co-author, Bruce Carlin, an assistant professor of finance at UCLA, conclude that modest increases in know-how for some investors damage other customers by generating an ‘arms race’ in which financial firms seek new profits by baffling all clients with ever-more arcane products.”
Humanity is never fully in control of its creations. This lesson from Mary Shelley has remained relevant for over 200 years.
There are issues with Kinsey's data, but his books revolutionized Americans' thinking about sex and sexuality.
If Einstein couldn’t solve the theory of everything, could anyone? Physicist Michio Kaku explains what it would take.
The hot Big Bang was an energetic, brilliantly luminous event. Today's Universe is alight with stars. But in between, the dark ages ruled.