By Gary H. Stern President Federal Reserve Bank of Minneapolis Young people in our country need to know that economic education is not an option.
Economic literacy is a vital skill, just as vital as reading literacy.
Robert F. Duvall President and CEO National Council on Economic Education Speeches, columns and essays by Gary H. Stern Dennis Flanagan, former long-time editor of Scientific American , tells of once meeting the famous movie critic for The New Yorker , Pauline Kael. Kael was not amused. Nobody likes to be called to task about a deficiency in knowledge in a particular area, especially by someone who has a deeper understanding than she possesses. One can imagine Flanagan later meeting an economist and having to confess his ignorance of the dismal science, and the economist then meeting a geologist, who encounters an artist, and so on. Each is accomplished in his own right and may even consider himself something of a Renaissance Man, yet each is likely perceived by the other as somehow deficient.