The writers of The Woke Salaryman previously wrote an article about economics and personal finance, and decided to return with another article on it. They’ve added a disclaimer that they have no formal training in economics. So while anyone who is professionally educated in the field of economics might not fully agree to everything that is stated here, this article might still serve as a good reminder to anyone who is reading this. This article is based on the writer’s view on how economics and personal finance interlink. Survivorship Bias  Simply put:  If you concentrate on success or survival stories, you’re not getting a full grasp on reality. For example, if you concentrate solely on your friends who make lots of money overnight through day-trading, you’re ignoring the thousands of people who fail miserably at it. What it means for you:  A lot of people will say ‘pursue...