I had another opportunity to write for Forbes.com, this time about financial literacy. Below is an excerpt from my post — please be sure to repost it on LinkedIn if you found it helpful. Thank you.
“Recently, I listened to economist Austan Goolsbee give a short explanation of the importance of financial literacy in the era of populism and the seemingly renewed interest in the positive aspects of socialism. He was speaking on a morning financial news show on CNBC. A short while later, I read an article that summarized the thinking of JPMorgan Chase CEO Jamie Dimon on this subject, as stated in a letter to shareholders. In it, he slams socialism and defends capitalism, arguing that while capitalism does have its flaws, there is “no question that capitalism has been the most successful economic system the world has ever seen.” This, and the ongoing “tug of war” between MSNBC and FOX News got me thinking about the role a coach could play in helping companies improve the financial literacy of their first- and second-line managers and the impact this could have.
“It is likely that senior managers reading this are already thinking, ‘It’s not possible that my first- and second-line managers lack a basic understanding of the language of business, i.e., finance.’ Well, I am here to tell you that many do lack it. In fact, it is my experience that…” Read the rest at Forbes.com