Getting financial literacy right

A number of years ago, I found myself, together with academic and economist Constantin Gurdgiev, in the back of a taxi, in Dublin with a US journalist.

We were spending the afternoon taking taxis at random, with the journalist asking the taxi his or her views and knowledge on various aspects of the financial crisis.

A piece subsequently appeared which noted that so bad was the financial mess we were in that taxi drivers were capable of discussing credit default swap pricing and credit ratings agencies.