All sectors of our economy have been impacted by the current economic uncertainty: consumers, businesses, state and local governments and workers. All have felt the severity of the economic downturn. There is no shortage of accusations and finger-pointing swirling around, regarding the events and conditions that caused the problem. When examined closely, there is no single cause or group that we can point to that can realistically fully shoulder the blame.
There are many lessons to learn from this recession, but what is abundantly clear is that more economic and personal financial literacy is necessary. More needs to be done to educate our young people about economics and personal finance, and the important role they play in the economy as consumers, workers and future entrepreneurs.
While knowledge of economics and personal finance alone is not sufficient to safeguard consumers against fraud and deceptive practices, FSCJ's Center on Economic and Financial Education (CEFE) believes that well informed individuals serving as their own advocates is the best line of defense against abusive practices.
FSCJ's Center on Economic and Financial Education is proud of the contribution it makes to economic and financial literacy in K-12 education. We believe that there are three fundamentals to effective economic and personal financial education in schools.