tag:blogger.com,1999:blog-7736446773245191504.post3397903232299684854..comments2024-03-27T08:57:40.926-04:00Comments on Financial Literacy and Ignorance: Friends, Family and FinancesAnnamaria Lusardihttp://www.blogger.com/profile/05956062460452648142noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7736446773245191504.post-2560620900310672642008-12-03T11:47:00.000-05:002008-12-03T11:47:00.000-05:00In general, I agree that financial education shoul...In general, I agree that financial education should be in some form a part of education. But I disagree in involving primary or secondary education beyond teaching basic interest-rate calculations or history lessons. I would encourage NGOs and governments to get involved in financial education and not schools. Primary and secondary schools should provide skills in mathematics, science and humanities so that school-leavers become thinking individuals who can recognise the salience of issues and decide whether acting as a "homo oeconomicus" is necessary.<BR/>Several authors have shown that higher education level makes financial and retirement planning more probable (e.g. Bottazzi, Jappelli and Padula (2005): Retirement expectations, pension reforms and their effect on private wealth accumulation, or Oehler and Werner (2008): Saving for retirement- A case for financial education in Germany and the UK? An economic perspective). Well educated and reflective people can judge the relevance of pension and financial planning. This is where regulation, governmental actions and NGOs can call the attention. Still, I need to emphasise that interest rate calculations should, of course, be taught at maths class and historical crises (e.g. 1873 or 1929) should be a part of history lessons.<BR/><BR/>Csaba Burger<BR/>DPhil Candidate<BR/>University of OxfordUnknownhttps://www.blogger.com/profile/12046405710200918556noreply@blogger.comtag:blogger.com,1999:blog-7736446773245191504.post-36869518437555462122008-11-24T04:13:00.000-05:002008-11-24T04:13:00.000-05:00There are clear benefits to approaching family or ...There are clear benefits to approaching family or friends for a loan or investment rather than conventional sources.<BR/><BR/><A HREF="http://retiredebtfreeandhappy.com" REL="nofollow">Retirement Plans, Retirement Savings,Retirement Investments,Home based Business</A>Anonymousnoreply@blogger.com