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Mathematical anxiety is anxiety about one's ability to do mathematics. It is a phenomenon that is often considered when examining students' problems in mathematics. Mark H. Ashcraft defines math anxiety as "a feeling of tension, apprehension, or fear that interferes with math performance" The academic study of math anxiety originates as early as the 1950s, where Mary Fides Gough introduced the term mathemaphobia to describe the phobia-like feelings of many towards mathematics. The first math anxiety measurement scale was developed by Richardson and Suinn in 1972 ! I think these reasons are true and we have seen the impact in schools today also !
One big reason for fearing math is due to the way its taught. We need to connect Math to the real world and make students understand phenomena through real world instead of mugging up of formulas.