An Educational Construct of the First Great Financial Crisis of the Third Millennium

5 Pages Posted: 24 Oct 2008 Last revised: 21 Sep 2009

Date Written: October 21, 2008

Abstract

The intellectual fall-out from the financial crisis has resulted in renewed debates on a wide range of issues from financial regulation to the future of capitalism. As these discussions gather momentum, there is yet another dimension that requires closer examination. This paper cites financial illiteracy as a significant causal factor in the sub-prime debacle and argues that for market economies to function efficiently the consumer must be equipped with the skills to make optimum decisions about complex financial products.

Keywords: credit crunch, curriculum, economic education, financial literacy, financial crisis, personal finance

JEL Classification: A21, D14, I21

Suggested Citation

Gamlath, Suresh L., An Educational Construct of the First Great Financial Crisis of the Third Millennium (October 21, 2008). Available at SSRN: https://ssrn.com/abstract=1287691 or http://dx.doi.org/10.2139/ssrn.1287691

Suresh L. Gamlath (Contact Author)

University of West London ( email )

St Mary's Road
Ealing, London W5 5RF
United Kingdom

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