chapter  32
10 Pages

Financial Literacy Education

A Questionable Answer to the Financialization of Everyday Life
WithJeanne Lazarus

Since the end of the 1990s, the idea that all responsible governments must promote financial education policies has been spreading, nationally and internationally. Individuals therefore seem to stand alone against financial risks, with states, backed by financial companies and non-profit organizations, providing them merely with informational tools. In 2015, the OECD counted 59 countries that had implemented national strategies to enhance financial literacy. This chapter focuses on the building of a new political issue; and discusses the political implication of the spread of financial literacy education. The OECD’s cognitive framework is deeply influenced by behavioral economics, which is the discipline of most of its financial literacy experts. Financial literacy educators are also concerned with young people: whether they are children in school or young employees who must be made aware of the financial risks they incur and the need to insure against them.