Education VS Training
The term "Pavlov's dog" has come to signify the difference between education and training. In simple terms, ring a bell and Pavlov's dogs salivated and got hungry, even if ther was not any food around.
conditioned reflex - Pavlov's dog is used to describe someone who merely reacts to a situation automatically instead of using critical thinking.
Modern advertising uses conditioned reflex extensively. The financial-services industry does the same thing. People work hard for their money and, without thinking, turn their money over to banks and pension funds.
It is common to see so-called financial experts saying, "Go to school. Get a job. Save money. Cut up your credit cards, and get out of debt. Your house is an asset. Live below your means. Invest for the long term in a well-diversified portfolio of stocks, bonds, and mutual funds." This is not financial education. This is financial training, the same training that Pavlov used on his dogs and that advertisers use to sell cigarattes (4 High-Yield "Sin Stocks" You Can't Afford to Ignore), antacids, and insurance.
In the name of financial education, schools also bring in financial planners who train young minds to believe that "investing for the long term in a well-diversified portfolio of stocks, bonds, and mutual funds" is the smart thing to do.
Mindlessly sending your money to complete strangers is not the end result of good financial education. It is the end result of dog training.
conditioned reflex - Pavlov's dog is used to describe someone who merely reacts to a situation automatically instead of using critical thinking.
Modern advertising uses conditioned reflex extensively. The financial-services industry does the same thing. People work hard for their money and, without thinking, turn their money over to banks and pension funds.
It is common to see so-called financial experts saying, "Go to school. Get a job. Save money. Cut up your credit cards, and get out of debt. Your house is an asset. Live below your means. Invest for the long term in a well-diversified portfolio of stocks, bonds, and mutual funds." This is not financial education. This is financial training, the same training that Pavlov used on his dogs and that advertisers use to sell cigarattes (4 High-Yield "Sin Stocks" You Can't Afford to Ignore), antacids, and insurance.
In the name of financial education, schools also bring in financial planners who train young minds to believe that "investing for the long term in a well-diversified portfolio of stocks, bonds, and mutual funds" is the smart thing to do.
Mindlessly sending your money to complete strangers is not the end result of good financial education. It is the end result of dog training.
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