[kadenshep]

I edited my comment to remove the statement "Stop blaming people for a system they didn't choose." I'm sorry you read it. It was unnecessary and you're right, you're not really victim blaming.

I got frustrated at face value because increasing wages would do more to alleviate a lot of American's financial woe's -- now and later -- than (rightfully) helping to educate Americans about investing money. You're right, even small bouts of investment can net large gains in the future. I jumped the gun and took it as "if you just stopped being dumb with money everything would be better!"

Wage increases are not only largely (historically) objectively justifiable, but wage increases would be more consistent and easier to "implement" than educating an entire populace in a better manner. There would also be the enormous task of changing purchasing habits. We know that even when people understand "doing X is bad for future results", that doesn't mean they'll make the more rational choice.

Neither perspective is exclusive. We can increase wages and we should also invest in educating Americans about sound financial practices. But wage increases can happen now, would be immediately beneficial to everyone, while also making it easier to invest and take on the risks associated with investing.

[slg]

I sincerely appreciate this reply. Not enough people are willing to do to what you just did.

I agree with everything else you said here. More money is always going to be the quickest and simplest fix for this. I was simply pointing out that financial education should also be part of an ideal solution and that education alone is "better than nothing."

[peacetreefrog]

I appreciate the spirit of this comment too. I do think though that where many well-intentioned people go wrong is that they think wages are just like a dial that "we" (or gov or whomever) can easily turn. I think this essay gets at a lot of these ideas very well:

http://russroberts.info/article/the-reality-of-markets/