local folder permissions vs chown — security considerations
Wp-content contains plugins and themes. So, if I can read and write into those files, I could add malicious code very easily. This malicious code can then do interesting things. You are basically inviting a lot of trouble. As for not understanding permissions: http://www.thegeekstuff.com/2010/04/unix-file-and-directory-permissions/ http://codex.wordpress.org/Changing_File_Permissions