The world is recovering from financial crisis that started in 2007. The cause of the crisis was failure of American Mortgage Company. The effect has spread all over the world; however the world seems to be recovering. This is not the first time that the world has suffered such a crisis. There was the great depression of 1920s. The point that is in people’s mind; economists, politicians, and social scientist is how they can prevent the occurrence of such a crisis in future. Among the many recommendation brought out, there is the role that education can play. Our education system can be moulded to educate students and society in general on how they can prevent such an occurrence in the future. Secondary school life is the initial stage that a child moulding can start. It ensures that there is a base of a human being that can be shaped to influence the life of the child in future (Alloy & Ahrens, 2008). This paper will focus on how education can be used to combat future occurrence of such crisis.
Development and enforcement of a money management principles
The principle that human beings have are moulded by early life development. At high school a child is given some money to manage and spend. This is the period that they are given pocket money to spend at school and are allowed to make individual decisions toward things that affect their lives. In schools children should be taught on how to manage the finances they have, they should be trained on how to make decisions which have an impact on the finances they have. The little money they are given by their parents should be the one to start molding their behavior towards good financial management and making priorities. One of the most important things that people should aim at is t...
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Juveniles are being taught that in order to have a nice car, branded cloths and the house of their dreams, by getting into an expensive mortgage, they have to be an employee of a huge corporation. In addition, they have to undergo to a prestigious school, study hard, have excellent grades in order to become popular and respectable in the world. However, many people would not become those super leaders, but these majority of people have a great role in the capitalism society of the US. As Gatto says, “We buy televisions, and then we buy the things we see on the television. We buy computers, and then we buy the things we see on the computer. We buy $150 sneakers whether we need them or not, and when they fall apart too soon we buy another pair” (38). Such results are in part of a wrong education that teenagers have received trough many decades. In addition, Gatto highlights that modern educational system has been working in a six basic functions methods that makes the system strong and unbreakable: The adjustable function, indulge students to respect authorities. The integrating function, which builds the personality of the students as similar to each other as possible. The diagnostic and directive function, which allows a school to set permanent scholar grades in order to determinate his or her future role in society. The differentiating function, which gives to the student a good education and after his or her role is diagnosed, they prevent any educational progress. The selective function, function that the system has used to prevent academic growth for the non-selected students. The propaedeutic function, which works in the selection of specific groups of intellectual adults to keep perpetuating the system all over again making it a continuous sequence. (Gatto 34). Gatto’s facts revealed the survival of the educational system for decades,
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Through Freire’s “ The Banking Concept of Education,'; we see the effects this concept has on it’s students and also we see the effects that the alternate concept, problem-posing has. The ‘banking’ concept allows the students to become vessels of knowledge, not being able to learn at a creative pace. By using communism, seeing through how education is taught in the classroom, it is parallel to Freire’s ‘banking’ concept. We can see that both ideas are similar and both were harmful to the human mind. While ‘banking’ poses the threat of creative growth and power, Marxism, which applies Marx’s ideas to learning in a communistic way, it creates the threat of never being able to learn.
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The standardization of the learning process proposes a simplified, singular approach to providing education to those who can afford it. Limiting material provided and lessons taught, tests, grading, function to create an easily controlled system. “Education” has been transformed and has come to connote “the transmission from a central source of knowledge to passive recipients” (McClellan. Online). However, the question remains whether this definition can actually suffice. The futility of a packaged education is put into context when it is realized that “meaningful learning, deep knowledge, collective wisdom and innovative action do not come from slick, pre-packaged course materials and efficient one-way transmission of information” but rather through the more complex idea called learning (McClellan. Online).
The "subprime crises" was one of the most significant financial events since the Great Depression and definitely left a mark upon the country as we remain upon a steady path towards recovering fully. The financial crisis of 2008, became a defining moment within the infrastructure of the US financial system and its need for restructuring. One of the main moments that alerted the global economy of our declining state was the bankruptcy of Lehman Brothers on Sunday, September 14, 2008 and after this the economy began spreading as companies and individuals were struggling to find a way around this crisis. (Murphy, 2008) The US banking sector was first hit with a crisis amongst liquidity and declining world stock markets as well. The subprime mortgage crisis was characterized by a decrease within the housing market due to excessive individuals and corporate debt along with risky lending and borrowing practices. Over time, the market apparently began displaying more weaknesses as the global financial system was being affected. With this being said, this brings into question about who is actually to assume blame for this financial fiasco. It is extremely hard to just assign blame to one individual party as there were many different factors at work here. This paper will analyze how the stakeholders created a financial disaster and did nothing to prevent it as the credit rating agencies created an amount of turmoil due to their unethical decisions and costly mistakes.
Being successful at budgeting our personal finances is not strength within our household, and I often find myself nervous thinking about our cash flow. I don’t recall having conversations with my parents concerning finances; I only remember learning to balance a checkbook while in high school. Considering that most Americans will have the need to create a budget and manage their finances at one point of their adult life, I feel that a series of personal finance classes should be a part of a high school education. In these tough economic times, I’ve learned that having a handle on our personal finances is not a luxury – it’s a requirement. Therefore, making money while effectively managing and tracking how you spend it is closely related to stress levels and living a comfortable life.
When reviewing the literature regarding the past, present and future of educational curriculum, several main points seem apparent, namely that curriculum is cyclical, that a dilemma or paradox exists, and that curriculum must be looked at with a sensitive view.
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In conclusion, the best way to manage your money is to keep a budget and record all your transaction to see where your money is going. Living with a budget isn’t the easiest thing in the world, but it can be a great alternative to worrying about how you are going to pay for your expenses. Budgeting allows you to create a spending plan for your money; it ensures that you will always have money for the things that are important to you. Following a budget will also keep you out of debt. If you don’t balance your budget and spend more than you make, you will have financial problems. Many people don’t realize that they spend more than they earn and slowly sink deeper into debt every year.
Political ecology began in the 1960s as a response to the neglect of the environment and political externalities from which it is spawned. Political ecology is the analysis of social forms and humans organizations that interact with the environment, the phenomena in and affecting the developing world. Political ecology also works to provide critiques and alternatives for negative reactions in the environment. This line of work draws from all sorts of fields, such as geography, forestry, environmental sociology, and environmental history in a complex relationship between politics, nature, and economics. It is a multi-sided field where power strategies are conceived to remove the unsustainable modern rationality and instead mobilize social actions in the globalized world for a sustainable future. The field is focused in political ethics to refresh sustainability, and the core questions of the relationships between society and ecology, and the large impacts of globalization of humanized nature.
Many students in grade school don’t obtain money very often because they do not have a steady income, so they are prone to spend the money they get. For example, if a student gets money for a holiday, the first thing that comes to mind is to spend it on something they want because they are not used to having money. They don’t know the next time they will get more money so they don’t see the importance of saving. Since there would be a constant income a student will see the effect of saving because their amount of money would constantly be increasing which will motivate them to keep saving. If students learn how to save while they are younger they will be more successful in life, and they will also have that money to use when they graduate.
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