A new study has just been released that links poor math skills with a higher rate of mortgage default. The media have picked up on the report, with many going so far as to declare poor math skills as the cause of the subprime mortgage disaster. Here’s an example, from the Wall Street Journal:
A sudden increase in the number of subprime mortgage defaults helped push the economy into a deep global recession in 2008. Economists have offered intricate explanations for what caused it. A new study suggests that it might have been as simple as not being able to perform basic math calculations. (my emphasis)
Simpler than trying to figure out those more intricate economic explanations, at least.
Light blogging (probably) this week and next while I (continue to) take some time off.