Finance-Informed Citizens, Citizen-Informed Finance: An Essay Occasioned by the International Handbook of Financial Literacy

16 Journal of Social Science Education 16 (Winter 2017)

Loyola Law School, Los Angeles Legal Studies Research Paper No. 2017-42

13 Pages Posted: 9 Nov 2017 Last revised: 16 Feb 2018

Date Written: November 7, 2017

Abstract

Throughout the world, the dominant discourse treats “financial literacy” as both necessary and sufficient to improve the well-being of individuals and society. This essay argues that financial literacy is neither, and that promoting financial literacy is a perverse way to address the inadequate retirement funding, overindebtedness, financial crises, and other social ills that have inspired governments and educators to pursue it. In its place, this essay suggests that the aim of financial education ought to be to foster finance-informed citizens, who have the capacity for civic engagement that can create citizen-informed economic policies and financial regulation.

Keywords: Financial Education, Financial Literacy, Financial Inclusion, Civic Education

Suggested Citation

Willis, Lauren E., Finance-Informed Citizens, Citizen-Informed Finance: An Essay Occasioned by the International Handbook of Financial Literacy (November 7, 2017). 16 Journal of Social Science Education 16 (Winter 2017); Loyola Law School, Los Angeles Legal Studies Research Paper No. 2017-42. Available at SSRN: https://ssrn.com/abstract=3066954 or http://dx.doi.org/10.2139/ssrn.3066954

Lauren E. Willis (Contact Author)

Loyola Law School Los Angeles ( email )

919 Albany Street
Los Angeles, CA 90015-1211
United States
213-736-1086 (Phone)
213-380-3769 (Fax)

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