“A population, the majority of which does not even understand simple interest effects, is expected to make more and more financial planning decisions without guardrails. These often reach into the future and have many uncertainties. And they are so complex that even academics with above-average mathematical understanding are overwhelmed”…”If no one helps to reduce the complexity, it invites the providers to abuse.”
– Meckel, M.: “Human instead of machine”, in: Handelsblatt (2014), No. 52, p. 72.
