A new research study on financial literacy by Annamaria Lusardi, Pierre-Carl Michaud, and Olivia S. Mitchell has been featured on Freakonomics.com. The paper, entitled “Optimal Financial Knowledge and Wealth Inequality,” shows that “endogenous financial knowledge accumulation has the potential to account for a large proportion of wealth inequality.” The authors conclude that efforts to boost financial literacy early in life among all income levels and educational groups would be widely beneficial.
A PDF version of the paper can be downloaded here.
The Wharton School
