Earlier quoted context omitted.
I was just saying this the other day. I have been a steep learning curve about retirement accounts, mortgages, etc. There should really be a financial curriculum in high school, possibly all four years. This is basic information that everyone should be aware of.
isn't there some personal responsibility to teach yourself these things and not be stupid? Why do government funded schools have to teach people everything? And what subject will we cut to teach these things?
The obvious answer to your first question is: It has severe detrimental effects to our society, and we'd all be better off if people were taught the basics.