Economic Ignorance: Don't blame the kids

Walk into any high school and you'll probably see a slogan that just so full of optimism that your hair will stand up on your arms in excitment. It reads something like this: " We're Here For the Kids". If only it were true. So many words, so meaningless. There are reasons for the facade put forth by education leaders, but let me give you a simple example.

Ask the next high -schooler you see the following:
1. What is the function of the Federal Reserve System?

2. What is a blue chip stock?

3. What is meant by the term "federal deficit"?
4. What is meant by the term "fiscal policy"?

If the responses are "I don't know", please don't nod your head in agreement with so many other adults who just think our children are below stupid on the intelligence scale. They aren't!

Let's go back to that school slogan about being there for the kids. How can our school look at us with a straight face and say they are there for them when they make no effort to prepare these kids with economic knowledge? Let me take it a step further: school districts pulled courses such as economics and civics out of the curriculum in an effort to save money. In place of those courses they designed a course called "social studies" a sort of snake oil of the social sciences; a sort of dumbed-down version of history.

After thiry four years as a teacher of government and economics I couldn't define the term "social studies" because it is just too nebulous.

Schools....not there for the kids.

While your at it try asking a college graduate the following:
1. What's the function of A.I.G.?
2. What's a hedge fund?
3. What is a "credit default swap"?

He/she probably won't have a clue. So how dare any of us point a finger at those who took out mortages they didn't understand and criticize them anymore than we would those brilliant lawyers/doctors who bought the crap Madoff sold them