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15 Jul 2024, 10:20
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Fareena: Most people are, sadly, rather ignorant when it comes to financial planning. As a result, many find themselves destitute in their old age, unable to afford even basic necessities. The government should mandate that all working individuals invest 20% of their monthly income into a state retirement fund. This step would take care of the issue of lack of financial planning and thus, solve for good, the cost of living crisis among the elderly.
Paul: I think your conclusion is wrong. People should be able to spend or save their money as they see fit. In the case of adults, at least, it is the individual’s responsibility to manage their finances, not the government’s.
In the table, select the most serious flaw in Fareena’s reasoning and the most serious flaw in Paul’s reasoning. Make only two selections, one in each column.
Answer ->
Flaw in Fareena’s reasoning -> Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon.
She fails to consider that lack of financial planning may not only be the only reason of destitute for people in old age. There may be other factors at play like inflation.
Flaw in Paul’s reasoning -> Fails to interpret the context-specific meaning of an ambiguous term.
He fails to interpret that mandating all working individuals to invest 20% of their monthly income is not same as managing their finances.
Paul: I think your conclusion is wrong. People should be able to spend or save their money as they see fit. In the case of adults, at least, it is the individual’s responsibility to manage their finances, not the government’s.
In the table, select the most serious flaw in Fareena’s reasoning and the most serious flaw in Paul’s reasoning. Make only two selections, one in each column.
Answer ->
Flaw in Fareena’s reasoning -> Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon.
She fails to consider that lack of financial planning may not only be the only reason of destitute for people in old age. There may be other factors at play like inflation.
Flaw in Paul’s reasoning -> Fails to interpret the context-specific meaning of an ambiguous term.
He fails to interpret that mandating all working individuals to invest 20% of their monthly income is not same as managing their finances.
15 Jul 2024, 10:34
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My answer :-
Fareena’s reasoning - Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon.
Paul’s reasoning - Reasoning is irrelevant to the stated conclusion.
Fareena’s reasoning - Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon.
Paul’s reasoning - Reasoning is irrelevant to the stated conclusion.
15 Jul 2024, 10:34
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Fareens assumes that most people being ignorant in financial planning is the only reason destitute in old age and she also assumes that her proposed solution is one and final solution to eradicate the same. However there could be many other factors leading to people ending up badly w.r.t financial in old age and solution for avoiding such factors may widely vary. She ovverlooked the same.
Hence Fareen's flaw is given in the statement - Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon.
Pauls argument is purely based on personal freedom and people's right to live as they please etc, whcih grossly overlooks the issue at hand which is people ending up in destitute in old age. Hence Pauls Reasoning is irrelevant to the stated conclusion.
Hence Fareen's flaw is given in the statement - Fails to consider that a factor contributing to a phenomenon may not be the only factor behind the phenomenon.
Pauls argument is purely based on personal freedom and people's right to live as they please etc, whcih grossly overlooks the issue at hand which is people ending up in destitute in old age. Hence Pauls Reasoning is irrelevant to the stated conclusion.
