Financial Literacy: If it's so Important, Why Isn't it Improving?
Financial Literacy: If it’s so Important, Why Isn’t it Improving? ArXiv ID: ssrn-923557 “View on arXiv” Authors: Unknown Abstract Financial literacy has assumed greater importance in our society as the result of the increasing complexity of financial products and the simultaneous cutting o Keywords: Financial Literacy, Consumer Protection, Financial Products, Behavioral Economics, Education, Multi-Asset / Personal Finance Complexity vs Empirical Score Math Complexity: 1.0/10 Empirical Rigor: 2.0/10 Quadrant: Philosophers Why: The paper’s focus is on survey data and socioeconomic analysis rather than advanced mathematical modeling or backtest-ready quantitative strategies. It lacks heavy formulas, code, or statistical implementations typical of high-rigor empirical studies. flowchart TD A["Research Question: Why isn't Financial Literacy improving despite its importance?"] --> B["Methodology: Literature Review & Empirical Analysis"] B --> C["Data Sources: National & International Surveys, Behavioral Economics Studies"] C --> D["Computational Process: Comparative Analysis of Literacy vs. Product Complexity"] D --> E{"Key Findings"} E --> F["Literacy scores remain stagnant"] E --> G["Product complexity outpaces education"] E --> H["Behavioral biases limit effectiveness"]