The future of humanity is irrevocably tied to empowered individuals capable of discharging their obligations and responsibilities. Literacy was a key enabler in our collective civilizational advance. In a similar vein, the evolving context is placing big financial burdens on individuals, demanding an enhanced level of financial ability.
Should we continue to trudge in a cloak of
Web Industries, a material-converting and manufacturing company, was started by Robert Fulton in 1969. In 1985 Fulton began offering stock to the employees, and in 2000 the company became 100 percent employee-owned. Josh Chernin, the Vice President of European Operations, says that Fulton felt that though he had started the company, the employees had built
This article is intended for the parents of the upcoming generation. Alan Greenspan, financial guru and former chairman of the Fed, once said that “the number one problem in today’s generation and economy is the lack of financial literacy.” Why is financial literacy so important? Because hard work and long hours can only do so
Since its founding, the United States has been seen as the land of potential greater economic equality. The American Dream promotes the idea that any person, regardless of race, class, or any other social barrier, can find success. In the U.S., the assumptions have been that: one, there is equal opportunity and two, as long
As new school and work years begin, it is a perfect time to analyze what we do and, if necessary, make some changes. I am probably the first who needs to amend what I do. Primary among the priorities I want to adjust is related to how my actions can be consistent with my professed
In a recent column, I asked readers to write in with ideas about how full employment would influence the debate about inequality in the U.S. Since the column was published, eradicating poverty and trying to address inequality have returned to the spotlight as issues to be discussed during the 2016 election campaigns. Many of you
Inequality is a topic of obvious concern worldwide. Nevertheless, problems arise when we measure inequality without a standard definition. Not having a unique and unambiguous definition has the consequence that different measures can lead to different conclusions.
Inequality is largely assessed by measuring three different variables: income, consumption and wealth. The most popular and publicized of
From the French Revolution to the rise of the Communist Party in China, inequality has been the primary motivating factor of the great evolutions of society. Many commentators seem to have hit the nail on the head with their observations that human history could best be described as a progression of times when groups which
A number of people advised me not to write a column involving fraud and charities, especially religious-based charities, because they considered it controversial. As I was deciding whether or not to do so, a good friend advised me that the potential controversy is exactly the reason why I should write such an piece, so here
Across the United States, it is not uncommon to see billboards and advertisements for a local lottery. These are often joined by other joint lotteries, some of which cover several states. While the variety is seemingly endless, all the ads and sponsorships of the games share one trait: a warning. Often found in the fine
As 2014 begins, all across the world the rush of New Year’s resolutions has crested. Many of these resolutions involve getting a better job, working harder or simply saving more. One common goal is developing a so-called “Rainy Day Fund”: extra cash available in case of emergency. Yet, for the majority, this fund never materializes and
About The Authors
John Hoffmire, PhD
John Hoffmire is the director of the Center on Business and Poverty at the University of Wisconsin School of Business and faculty associate at the Puelicher Center for Banking Education at UW-Madison. Before starting the Center on Business and Poverty in 2004, John had a 20-year career in equity investing, venture
How do college students behave financially and plan for the future? Are college students’ financial planning skills getting better over time?
Those are the questions that Money Matters on Campus has tried to answer.
Money Matters on Campus, a study conducted by EverFi and sponsored by Higher One, details the findings from a three-year survey of 43,000
Financial-wellness plans aim to help employees cut their debt, invest for retirement.
By Rachel Feintzeig , Wall Street Journal
Companies are expanding their wellness programs to focus on workers’ wallets in addition to their waistlines.
Meredith Corp., Staples Inc. and PepsiCo Inc., among others, have begun offering programs aimed at improving employees’ financial security.
Modeled after physical-wellness programs
Wealth inequality is an issue that influences many societies. The top one percent of people own 40 percent of global wealth, whereas the bottom half has only one percent. But what, if anything, to do about this is unclear.
A first step may be to understand relative inequality. One measure is the Gini Index. The higher
What do superheroes and mentors, financial calculators and online courses have in common? Each is a financial wellness tool developed by Visa, Staples Foundation, The Church of Jesus Christ of Latter-day Saints and Operation Hope to teach youths financial literacy.
Financial wellness is the ability to use knowledge and skills to manage financial resources effectively for
As more and more American workers reflect on their ability to secure a financially comfortable retirement, the mismatch between when they think they will retire and when they actually do provokes both concern and reflection. Retirement ages have undoubtedly increased over the past decade — a 2015 analysis by the Centre for Retirement Research at
Money makes the world go ’round. And because so much of what we all do revolves around money — making it, spending it, saving it and investing it — understanding how money works and being financially literate is important.
Financial literacy describes an individual’s ability to understand how to manage money. It measures how an individual
Across the United States, the need for better financial responsibility is well-documented. On average, Americans spend too much, save too little and experience a great deal of stress over money. This stress negatively impacts family, performance at work, and nearly every other aspect of day-to-day life.
While there is a push for schools to better educate
Two recent articles have summarized research in fields that seem unrelated: the effect of money on happiness and the efficacy of pain in creating social bonds. As a thought experiment, I would like to consider these two fields in relation to one another, and in relation to a society increasingly divided into haves and have
