Freedom in Finance: The Importance of Epistemic Virtues and Interlucent Communication

This chapter addresses the issue of how the desired increase in understanding of a complex product might be brought about, considering the regulation of information, epistemic virtues, and interlucent communication. Freedom has value due to its contributions to the satisfaction of desire and the enabling of increased responsibility. The lender, on the contrary, may have private information about price movements of similar houses that they financed before, or it may be much less costly for the lender to obtain the information from other sources. Finance is one of the main sources of information about the availability of a range of choices such as insurance policies, retirement plans, mortgages, and so on. Financial literacy education focuses on teaching consumers a range of core concepts including personal finance, information about national legal frameworks, budgeting, and so on. Establishing common knowledge is not the responsibility of the finance industry only.