FX Market Watch
to the more abstract, and not the other way around. Accordingly, abstract concepts are understood in terms of prototype concrete processes. Te term “concrete,” in this theory, has been further specified by Lakoff and
Johnson
as more closely related to the developmental , physical
neural,
and interactive body (see e m b o d i e d philosophy). One manifes t a tion of this view is found in the cognitive science of mathematics, where it is proposed that math emati c s itself, the most widely accepted means of abstraction in the human community, is largely metaphorically
Labradors, for other dogs a smelly metaphor can be used). Dogs and other animals have an intelligence which can be measured, such as the Monkey who
outperformed the human memory champ in a memory
Why is it that Americans have the highest per capita GDP and some of the lowest scores in mathematics globally? Could this be connected to Consumerism, multiple market bubbles, and a growing problem in financial literacy? Americans nearly flunk financial literacy, says
Bankrate.com:
America gets a “D” for the second year in a row in Bankrate. com’s Financial Literacy Survey.
T h a t ’ s d i s app o inting enough, but the statistically valid survey of 1,000 Americans, c o n d u c t e d for Bankrate
constructed,
and thereby reflects a cognitive bias unique to humans that uses embodied prototypical processes (e.g. counting, moving along a path) that are understood by all human beings through their experiences.
It is difficult to explain philosophy to a dog, because they do not have a means of understanding the language, hence the need for doggie metaphor. Everything to a dog can be equated to throwing the ball (in the case of
44 FX TRADER MAGAZINE April - June 2012
test . Modern humans struggle with basic math skills; the understanding of money and finance is 95% numbers and mathematics. Finance is math, not magic, as many would like you to believe.
It is possibly the last subject
yet to be understood by the scientific method.
Is it ironic that the country with the most money, and the most dynamic
capital markets, struggles
with basic math skills, and money and finance is understood only by the understanding of math?
by RoperASW, also shows that Americans are in “debt denial.” Tey’re unwilling to admit that credit is a problem -- in fact the only thing Americans are more secretive about is their love lives.
Finance is not tree-cutting. Making an investment portfolio is not like chopping a branch of a tree, while the analogy is a powerful tool to educate, it can’t turn a caterpillar into a butterfly.
Making a cup of coffee is an algorithm:
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