Look around at the mistakes teenagers and twentysomethings make (financial, gambling, borrowing etc) and invariably, there is a woeful lack of understanding of probability and risk. Indeed, that is magnified in extreme risk situations and risk-taking (addiction, covid, war and so on), where default “cost/benefit” analysis is irrelevant. In order to thrive, you must first survive, is one of the first lessons gamblers learn. When the risk-taking education in the home or classroom is so weak, little wonder our kids are prone to dumb mistakes.
