THE ECONOMY: The Nyack Idea

"At the Stock Exchange we come into firsthand contact with the range of knowledge—the economic literacy—of a broad cross-section of the American people. That knowledge, not to mince words, is often shockingly inadequate." So said George Keith Funston, president of the New York Stock Exchange, addressing last week the National Association of Secondary School Principals in Portland, Ore. His explanation: "We do not teach economics."

Funston pointed out that a decade ago, only 4% of the nation's 10 million high-school students were ever expected to take economics, and that only one...

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