boedicca
Uppity Water Nymph from the Land of Funk
- Feb 12, 2007
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Recently, a few friends and I discussed what a proper education should be for children to grow up into responsible, independent and productive adults. Besides the standards (reading, writing, and 'rithmatic), we came up with a few other items:
1. Civics (the design and function of our government - and the role of an individual)
2. Western Civilization (history, philosophy, principles)
3. World History (panorama of the historical development of societies around the world - important to compare and contrast with Western Civ)
4. A work ethic (showing up on time, performing required work tasks, team work)
5. Financial literacy (personal financial management)
The last one is covered quite well in this article:
A basic course that covers economics principles, sources of economic progress (such as economic freedom), public choice, and especially personal finance should be mandatory for all high school students, and should be strongly encouraged at the college level, even for those not majoring in economics or finance.
I am very passionate about this for many reasons, but the bottom line is that financial illiteracy fosters poverty and derails many life plans. Financial literacy, on the other hand, promotes wealth and hope.
Consider, for example, that entrepreneurship is a pathway for the poor to escape poverty. You don’t need a college degree to be a successful entrepreneur, but before you can begin to think about starting a business, you must have your financial ducks in a row. It is a necessary, but not sufficient, condition for success.
Education in financial literacy is empowering. I have seen firsthand the excitement and change in students when they learn how they can accumulate hundreds of thousands of dollars over time by saving only $3 a day.
Students who learn about the cost of raising children as well as the power of compound interest on savings (as well as debt) will have a better understanding about the opportunity costs of their actions and may choose a different path. I realize that this is not a panacea, but it can help....
Dear Secretary DeVos, Please Prioritize Financial Literacy — The James G. Martin Center for Academic Renewal
What do you think is important to stress in education?
1. Civics (the design and function of our government - and the role of an individual)
2. Western Civilization (history, philosophy, principles)
3. World History (panorama of the historical development of societies around the world - important to compare and contrast with Western Civ)
4. A work ethic (showing up on time, performing required work tasks, team work)
5. Financial literacy (personal financial management)
The last one is covered quite well in this article:
A basic course that covers economics principles, sources of economic progress (such as economic freedom), public choice, and especially personal finance should be mandatory for all high school students, and should be strongly encouraged at the college level, even for those not majoring in economics or finance.
I am very passionate about this for many reasons, but the bottom line is that financial illiteracy fosters poverty and derails many life plans. Financial literacy, on the other hand, promotes wealth and hope.
Consider, for example, that entrepreneurship is a pathway for the poor to escape poverty. You don’t need a college degree to be a successful entrepreneur, but before you can begin to think about starting a business, you must have your financial ducks in a row. It is a necessary, but not sufficient, condition for success.
Education in financial literacy is empowering. I have seen firsthand the excitement and change in students when they learn how they can accumulate hundreds of thousands of dollars over time by saving only $3 a day.
Students who learn about the cost of raising children as well as the power of compound interest on savings (as well as debt) will have a better understanding about the opportunity costs of their actions and may choose a different path. I realize that this is not a panacea, but it can help....
Dear Secretary DeVos, Please Prioritize Financial Literacy — The James G. Martin Center for Academic Renewal
What do you think is important to stress in education?