The problem, of course, with the democratization of finance is that if you raise the participation in financial markets, then you bring in people who are: less and less knowledgeable; less and less understanding of concepts of finance; and less capable and more vulnerable to exploitation.

问题在于,随着金融的民主化,越来越多的人参与到金融市场里来,有些人,受教育程度较低,对金融概念不了解,没有专业能力且容易被人利用

耶鲁公开课 - 金融市场课程节选

To just introduce a piece of jargon, we could call those the P abilities, P for person.

用专业术语来说,我们可以称那些能力为P能力,P代表人

耶鲁公开课 - 死亡课程节选