The Layman's Guide to Politics, Economics & Everything Else You were Told to Leave to the Higher Educated...

 First of all, intellect and wisdom cannot be taught through acing tests on other people's interpretation of history and current events. Before I go on, we are not talking science/math/art/philosophy... we are talking about those calculated principles which run our countries, financial systems all the way down to You. What is ingrained in the minds of students are "factual" dates and events that those teaching deem to be true, by way of consensus - those students then espouse that "truth" to others, by waving a degree (or knowledge that some "important" person bestowed on them).  This is not to say that you should not go to university or learn from others who you feel are knowledgeable - It is to say that you should not blindly accept what you are told.  I am also not suggesting that recorded events may not have taken place - I am suggesting that there is always more than one side to a story, and when you take a course on most subjects pertaining to the economy and politics, you are only getting one side (unless the word "comparative" is in the course title, and even then you're getting a few biased comparisons at best).  A university course in politics/economics in one country will not be taught the same in another country (perhaps in the western world, yes) - there is no commonality, as in science or math, because there are culturally distinct differences, and agendas.

 You don't actually have to take a course in political science to understand what's going on in the world of politics.  An economics degree may help you get a job at a bank or somewhere that you can lecture about what's going on in the world economy - But there is an underlying thing between people/cultures that transcends the mere language and interpretation of it all.  That is called: Prudence. (yes, let's all sing Lennon's 'Dear Prudence' now...)

 So, how do we navigate through the maze of terms and ideologies that those in political arenas, banking systems and other managing institutions, use?  You can google terms, and look up the things you don't understand, of course - Yet, using prudence in your analysis about what is being communicated, how it's being communicated, and why it's being communicated, will help you uncover the real goals behind the doublespeak, which many people in high positions use to make you think that you don't know important stuff  - and so, you assume that they are way smarter than you, and you give them the reins, the control.

 What do I mean by prudence? I mean using your inherent discretion, holding up your antennae to understand what's behind what people are talking about.  It's not the words - it's the stance, the glance, the circumstance... these things that you can pick up even when the mute button is on.  I could just write a glossary using common language for confusing terms, but that's been done, it would take too long, and won't take into account the us/them dichotomy.  This personal Prudence can be used all the time, even when your kid is trying to say something you don't get (or trying to cover something up!).  It is a much easier way of getting to the crux.