But people wouldn't invest their money in productive assets. Given more spare money, they buy bigger televisions and shinier cars. Financial ignorance and materialism are some of the most basic woes underpinning society.

Their thought process is well-illustrated by a recent exchange I had with some children from a background of poverty:

Me: Maybe you should save that money instead of spending it.

Them: Good point, then I can buy something more expensive next week!

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Children they may be, but I know their parents and that mindset did not appear ex nihilo.