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This Graziadio Business Review video interview features Joetta Forsyth, PhD, professor of finance at the Graziadio School of Business & Management at Pepperdine University, discussing the alarming level of financial illiteracy facing the nation, and the negative consequences it can have on people and the economy.
“Most people can point to a serious financial mistake that had a very damaging effect on their lives,” says Forsyth, who notes that young adult bankruptcy rates are rising, and young adults now have the second highest rate of bankruptcies. “The financial crisis is a clear demonstration of the desperate need for people to receive financial training.”
Dr. Forsyth has a PhD in Business Economics jointly awarded by the Harvard Business School and Department of Economics, and has taught finance at the University of Michigan, the University of Southern California, and Pepperdine University. She decided to do something about this declining literacy by writing a personal finance textbook for gifted young adults, age 16-22, and developing a curriculum for high schools, including online courses to train high school teachers. You can learn more about the book and the program at www.financialwisdompi.com.