Einstein is famously quoted as having said, "If you can't explain your theory to an 8-year old, you don't understand it." That's close, what he actually said was, "If you can't explain it simply, you don't understand it well enough." I haven't been able to find out when or where he said it, but I like the second one better so it must be the correct one.
I think that government should be required to apply that precept; if something can't be explained simply, and make sense to a third-grade class, it can't be enacted. Think of how this would affect "health care" legislation. And maybe if the SEC had been required to explain credit default swap derivatives I would still have a retirement account...
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