Financial Literacy: Wall Street and How it Works

The financial sector is a mysterious part of the global economy, shrouded in ambiguity for those who aren't in it. Yet it is a behemoth that has grown to overshadow other economic sectors, such as manufacturing and agriculture, and it therefore demands our careful attention. Financial Literacy looks closely at the roots and effects of the financial sector. Many books concentrate on what is wrong with the system, but they fail to give us a firm grasp of why its turmoil started in the first place. Nor is it all that helpful to blame everything on the bankers. Author, educator Dr. Denise Ames, feels we need to dig deeper.

Financial Literacy presents a clear, holistic examination of the inner workings of the financial sector, laying the groundwork for understanding the crises it has played a role in. With this clearer understanding, we will be better equipped to critique the financial sector, see its fault lines, and propose workable solutions.

This book is for adult learners, educators, and students from grade nine through university. Each chapter includes "Questions to Consider," spurring critical thinking and encouraging readers to "see" the information from perspectives beyond their own. Pictures, activities, suggestions, images, diagrams, graphs, and free on-line resources all heighten understanding.

Chapter Summaries

Chapter 1. The Financial Sector: An Overview
> Chapter 2. Financial Crises
> Chapter 3. Ten Fatal Flaws in the Financial Sector: Part I
> Chapter 4. Ten Fatal Flaws in the Financial Sector: Part II
> Chapter 5. The Financial Crisis of 2007-2008
> Chapter 6. The Aftermath of the 2008 Financial Crisis
This chapter explains the "New Normal" that came about after 2008, including the 5 Rs--revolt, restore, react, reform, and rebuild. Each of the 5 Rs is explained using examples, and special emphasis is placed on the fifth R, rebuild. The components of the rebuild agenda include emphasizing a small and local economy, challenging the consumer growth model, renewing public ownership, healing our planet, and changing our values.