And schools should have economics and personal finances as part of the curriculum.

the problem with this “common sense” approach is that it emphasizes and reinforces personal responsibility in a system that’s rigged to take advantage of every human foible.

I call this the “late-fee” fallacy. As in the idea that video store late fees are intended to encourage responsible behavior, not a revenue stream that the business relies on. Overdraft fees are another great example.

Financial responsibility would ruin the economy.