“This is what You Need to Know about Economics”

“This is what You Need to Know about Economics”


"The only math we should teach our children is arithmetic."

"But if we taught them differential equations, they could calculate interest and make investments! If we taught them probability they'd understand polls and predictions. If we taught them logic, they wouldn't be fooled by scams."

"You're making my point for me. If they understood differential equations, they wouldn't max out their credit cards. If they understood probability, they'd never buy lottery tickets. If we taught them logic, they wouldn't buy products that do nothing. In short: If people understood math, the economy would tank immediately."

"Holy smokes! I never realized innumeracy was the major driver of economic growth."

"Try to explain to America, is there any other way?"


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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

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Comment balloon 10 commentsJoe Petrowsky • July 20 2016 08:45AM


Joe: With our instant gratification society, even if we taught them advanced math, many would still get themselves in too deep. 

Posted by Anita Clark, Realtor - Homes for Sale in Warner Robins GA (Coldwell Banker Access Realty ~ 478.960.8055) almost 4 years ago

Good morning Joe Petrowsky,

Anita Clark is right our society has become dependent on instant gratification..many will never change:(.

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.750.6899) almost 4 years ago

Joe Petrowsky Thanks for sharing this economics lesson.  So poor math skills is keeping our economy afloat... that just sounds scary. 

Posted by Nicholas Crane, Managing & Appraising Forest Land (Woodland Companies) almost 4 years ago

Good morning Joe,

It shows when they say 2 = 2 = 5 that we have a long way to go.

They will have to do away with the scoring curve so maybe more will learn.

Make yourself an astonishing day.

Posted by Raymond E. Camp, Licensed Real Estate Salesperson Greater Rochester (Howard Hanna Real Estate Services) almost 4 years ago

Good morning Joe. I understand what you are saying but every once in awile, I still buy a lottery ticket.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) almost 4 years ago

Well Joe Petrowsky I had never heard this term before, but now I think I need to get the book. Thank you.

One lesson from economics is that there is not perfect information, and most economic principles call for perfect information. The theory of markets is predicated upon PERFECT INFORMATION. But politics gets in the way, and stupidity and ignorance abound.

Bill Roberts

Posted by Bill Roberts, "Baby Boomer" Retirement Planner (Brooks and Dunphy Real Estate) almost 4 years ago

Joe, One may learn math and yet not learn how to apply the principles.  As a nation we are bombarded with consumption ... of food, of drugs, of products and services ... bigger, better, faster ... and we can get it all without the money to pay for it ... charge it please!

Posted by Kathleen Daniels, San Jose Homes for Sale-Probate & Trust Specialist (KD Realty - 408.972.1822) almost 4 years ago

Hi Joe - yes, you are right.  People are too low information and don't use logic at all.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) almost 4 years ago

Hi Joe: Guess my probability factor brains were on the fritz this morning. Just bought $20 worth of Power Ball tickets!

Posted by Hella M. Rothwell, Broker/Realtor®, Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea almost 4 years ago

Logic, common sense and a willingness to work hard are all seriously lacking in our society now. Too sad.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) almost 4 years ago