If someone uses the term economically/financially illiterate", it is a massive red flag that they actually have no clue about the system they are trying to describe
What they usually mean by this term is that what someone is saying does not match up with their orthodox understanding of economics, which is generally based on massively simplified models of the economy that bear only a passing resemblance to the actual system.
And in a world of climate change, ecological limits, financialisation, housing crises, ageing populations, technological disruption etc, a lot of these models are arguably becoming less and less useful anyway.
It’s also just become a shorthand way of dismissing things people don’t like without actually having to explain why they’re wrong.
Make no mistake, these people often have absolutely no idea how the system they’re talking about actually works. They know a handful of concepts like supply and demand, inflation, government borrowing, “the markets”, investor confidence etc, and then treat them like universal laws of physics.
These economic models aren't reality, though They are fantasy. Physics is the reality. The carbon that we are pumping into the atmosphere and the cascading effects of this are reality. The biosphere is reality. Not an equilibrium model.
Nevertheless, these concepts persist despite being so often plain wrong, because they conveniently protect particular financial interests and ensures that the status quo continues lumbering us all towards environmental catastrophe.
These people are very literally toxic to society and toxic to the planet. And for some reason, multitudes of the smug stupid assholes have infested this very sub.
Like flies to shit.