Low Information Fail? A Ten Commandments’ Tale

beyond scripture, certain historical events provide guidance to children. certain tales from history offer life lessons.

this historical knowledge is not scholarly. “low information” understanding can suffice. most individuals operate in “low information” mode. thus, they are able to grasp these important concepts.

i spoke to one of my vendors concerning the “crypto” collapse courtesy of same bankman fried. i mentioned the word “tulips” to him and he was at a loss. i thought an intelligent young man should know the reference. he admitted he was never taught about “tulips.”

“tulips” referred to the historic “tulip fever” event that occurred in holland in the 1600s. it has been referred as perhaps the first “asset bubble” recorded in history. essentially, an item, not of any real value, tulips, became grossly overvalued. individuals spent exorbitant funds to purchase items which, for all intensive purposes, were worthless. in the end, the tulip market collapsed. wikipedia.org

this episode of tulip mania was part of my public school education. i have lived my life with a “low information” understanding of the event. “bitcoin,” with my minimal understanding, sounded from the beginning as something that was “tulip” like. the same with nfts. thus, the recent collapse, in my mind, and on a “low information” level, was predictable.

with this said, i must wonder what they are teaching in public schools. the “tulip” history lesson was a valuable consumer/investor lesson for students. has this lesson been eradicated from education?

in sum, perhaps 50 years from know, history books may offer a chapter on “cryto mania.” perhaps, they may wish to offer a lesson as to how educators failed to pass the lesson of “tulips” to a generation.

be well!!

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Published by biblelifestudies

I am a practicing lawyer and long term admirer of the bible

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