Every year, the Industry and Parliament Trust - a charitable foundation - runs a course for British politicians to discuss the City of London. The aimis to show lawmakers how highfinance works, to inform better policymaking.

As exercises go, this is undeniably laudable. But its message is also alarming. For what the course organisers have discovered is that barely a handful of MPs ever bother to attend this type of "teach-in". Moreover, among those who do attend, the level of financial literacy tends to be low.