I read in an article by Glenn Rikowski that the new Labor government of Gordon Brown is launching school programs of ‘financial literacy,’ and that these programs pay special attention to ‘debt management.’ Thus, according to Rosemary Bennett in
The Times
“A new subject called ‘Economic Well-being and Financial Capability’ will be introduced into the curriculum for students aged 11 to 16 with the aim of preparing them for the financial pressures they will receive once they leave school.”
As Rikowski points out, it is interesting to see how the emphasis is placed on ‘debt management’ and not on ‘avoiding debt,’ which is understood when we consider the 3,000 pounds that a tuition costs in the United Kingdom and the increasing increases in the cost of accommodation.
I would also highlight the words of Ed Balls, Minister for Children, Schools and Families, who defends the new subject arguing that “Children must be prepared to manage their money and their career in a competitive and rapidly changing environment.” And even more:Money plays a crucial role in our lives. I want teenagers to start learning early how to monetize their money and savings once they start working. Schools have a crucial role to play in encouraging young people’s ambition and optimizing their opportunities for professional success, knowing how to take risks and developing the dynamic attitude of ‘I can do it’. They need to know about everyday issues such as opening a bank account, buying a house or saving for their retirement as soon as possible, developing a sense of responsibility as citizens “. Of course, one recognizes, along with Rikowski, that ‘financial literacy’ programs are necessary and that children should know how financial capital and its various appendices work, including how the banking sector obtains its stratospheric profits or how a pseudo-market economy is being implemented in the educational/university sector. It is also overwhelming to see how the notion of ‘responsible citizenship’ is assimilated without any qualms to that of the ‘consumer’ who has a bank account, a mortgage and a pension plan…
The best of all is that the general approach of New Labour is based on the idea that ‘investments in education and training’ will allow more young people to benefit from the ‘new capitalism’, basing these policies on the promise of ‘equal opportunities’, something that here we were talking about very recently regarding some of the European Commission’s educational programs.
