The Influence of the Consumer Society on the Education System

Elena Korneeva (), Oleg V. Grebennikov (), Vladlen K. Ignatovich and Liliya Yu. Averina
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Elena Korneeva: Prague Business School
Oleg V. Grebennikov: Kuban State University
Vladlen K. Ignatovich: Kuban State University
Liliya Yu. Averina: Kuban State University

A chapter in Consequences of Social Transformation for Economic Theory, 2023, pp 225-237 from Springer

Abstract: Abstract This paper focuses on the aspects of influence of the consumer society on the education system and the financial literacy which represents an important aspect for the personal development of young individuals. It also analyses the importance and usefulness of the financial education that can help to prepare young people for existing in the modern world distinguished by the globalization, social networks, as well as various fintech and crypto products. Financial education, or the act of providing consumers with financial literacy, is a growing, novel, but at the same time very important issue for various banking and financial institutions, and financial education programs are becoming an important component of marketing, financial communication, as well as customer service for financial services. Our results confirm the considerable growing influence of the consumer society on the education systems across countries and regions. Moreover, the findings show that with a growing complexity more efforts and support should be provided by the governments and stakeholders in order to embed such issues as financial literacy into the modern educational systems. We argue that all the measures might contribute to the creation of the better consumer society that would adhere to the principles of balanced economic growth compatible with the Sustainable Development Goals (SDGs).

Keywords: Education system; Consumer society; Economic theory (search for similar items in EconPapers)
JEL-codes: D11 H40 I2 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-27785-6_16

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DOI: 10.1007/978-3-031-27785-6_16

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