Title: Critical financial literacy: an agenda

Authors: Moritz Hütten; Daniel Maman; Zeev Rosenhek; Matthias Thiemann

Addresses: Darmstadt Business School, Haardtring 100, 64295, Darmstadt, Germany ' Ben-Gurion University of the Negev, P.O.B 653, Beer-Sheva 8410501, Israel ' The Open University of Israel, Derekh ha-Universita 1, 4353701 Ra'anana, Israel ' SciencesPo, 27 Rue Saint-Guillaume, 75007 Paris, France

Abstract: Following the recent financial crisis, consumer behaviour was framed as central in contributing to financial instability. To heighten the financial responsibility of consumers, programs to increase the financial literacy of the general population are being administered by the OECD and other national and international, public and private organisations. Far from presenting a balanced view of economics or encouraging civic engagement in financial regulation, such programs focus on correcting what is viewed as consumer misconduct. In the process, economic topics are naturalised and become reified. We oppose this 'mainstream' financial literacy, by proposing a critical financial literacy (CFL) program that empowers citizens to question the role of finance in society, and that underscores the importance of representing civil society interests in financial regulation. Hence, we call on civil society organisations and other stakeholders in civil society to contribute to the content of these programs and promote a CFL.

Keywords: financial literacy; financial education; financial regulation; critical financial literacy; critical education; socio-economic education; neoliberalism; financialisation; civil society.

DOI: 10.1504/IJPEE.2018.093405

International Journal of Pluralism and Economics Education, 2018 Vol.9 No.3, pp.274 - 291

Received: 07 Jun 2017
Accepted: 10 Dec 2017

Published online: 25 Jul 2018 *

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