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It's like signing up for Physics 101, or Physics 111. The 101 course provides students with the simplest of formulas to help them grasp the basic ideas of physical principles. The 111 course shows them where the formulas come from, and where they will probably break down in their application. No doubt Phsyics 111 is the better course for someone who really needs to understand things, but 101 puts more students in the seats. A business like TMF will always need to put more students in the seats, so what course do you think they will offer?

If I may take a stab at extending this analogy (though I suspect my extension may not be the best way to explain it):

To use a real life example of this, my college taught two types of statistics courses: an intro level for all the math/stats majors, and another for psych/soc/biology/etc. majors who didn't need to know all the specifics behind all the theories, formulae, history, and applications. (They weren't numbered 101/111 but I think this is the same idea Trick is getting at, if I am understanding this right.)

The stats-for-majors course was taught by the chair of the stats department. The stats-for-non-majors was taught by whoever happened to be free that term. Often, it wasn't even a PhD teaching it, but an associate (sorry, I forget the exact term used in academia for a person who teaches at a college with just a Masters).

Anyway, to cater to the students in the "111" course, you had a full PhD teaching. For the "101" course, you had a non-PhD. Obviously, the latter was less expensive.

So, for a business like TMF to put more students in the seats, think they'll focus on a higher expense route, or a lower expense route? Clearly TMF isn't hiring doctors or even highly experienced financial experts as its authors. This isn't to say that the TMF writers are unintelligent, because that isn't true. But, when it comes to teaching "pay down your credit card debt" and the like, you don't need a PhD in econometrics to teach the mass of new students.

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