Museum of American Finance

Whether it’s known as Financial Literacy or Financial Education, it’s of the Utmost Importance.

April 3 198x300 Whether it’s known as Financial Literacy or Financial Education, it’s of the Utmost Importance.

By David J. Cowen, Ph.D., President & CEO of the American Museum of Finance; Co-Chair of International Federation of Finance Museums.

 When I first heard the term “financial literacy,” I didn’t know what it meant. My background was the trading floor and I incorrectly assumed it was defined as being knowledgeable about the literature of finance. I have never liked the term because in reality what it means is “financial education,” and many outside of our field are simply not familiar with that terminology.

But that is just semantics. The reality is that many Americans are financially illiterate. This epidemic is not just endemic to the United States, but rather is a global problem. Our museum is a member of the International Federation of Finance Museums (IFFM), of which I am co-chair, and we often discuss this core problem with our partners around the globe. We view ourselves – the community of finance museums – as beacons of financial literacy light in what all too often is a sea of darkness. Read more…

POSTED: April 3, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , , , ,

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