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How Much Do People Know About Economics and Finance? Financial Illiteracy and the Importance of Financial Education (PDF)
Michigan Retirement Research Center via Pension Research Council Link to more items from this source
Mar. 28, 2008
6 pages. Excerpt: [A]s this brief will demonstrate, there is widespread financial illiteracy. Many households are unfamiliar with even the most basic economic concepts needed to make sensible saving and investment decisions. This has serious implications for saving, retirement planning, retirement, mortgage, and other financial decisions, and it highlights a role for policymakers to improve financial literacy in the population.

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