How can we make the world more moneywise?
The collapse of the financial markets has had a worldwide impact. Poor decisions on the part of financial institutions and consumers have lead to an economic crisis, fuelled by overconfidence in the market and investment in shakey financial products. While many of the causes and solutions to the crisis are beyond the reach of consumers, it has nonetheless highlighted the need for increased financial literacy of everyday citizens.
The world recession has uncovered a shocking amount of economic ignorance among, ostensibly, the smartest, well educated and sophisticated financial leaders, investors and private citizens exacerbated by overzealous investing and absurd levels of risk taking. Incorporating financial literacy into the education system may empower the next generation of consumers, politicians, CEO’s etc. to make smart fiscal choices for themselves in the future.
How can we empower individuals to make informed financial decisions? That is a topic that ought to be discussed on the world stage.