Mogor Isoriscu: “There is no limit to learning.” Financial education is required not only at the top of society, but also in the critical mass of the population

Major Isorisco at the Financial Education Forum

Financial education is essential not only at the top of society, but also in the critical mass of the population, according to the governor of the Romanian National Bank, Mugur Isurescu, who attended the first edition of the “Finance Education Forum”.

Because resources are limited, only knowledge has no limits!

“The Financial Education Forum, which is taking place today under the High Patronage of the President of Romania, aims to discuss a reality that has been highlighted in many countries: the adaptation of sustainable development and the quality of financial education. Financial education is required not only at the top of society, but also in a critical mass of the population. A study published more than three decades ago at Harvard University aims to answer the question of why some countries are so rich and others so poor.

Gaps, according to the study, have many causes: geography, natural resources, climatic differences, slippage of history, and differences between knowing or not knowing how to organize work, the economy, the state, and society. But the chapter closest to answering the question with which the author began the analysis is the chapter on knowledge wealth. Because resources are limited, only knowledge, says the author, and rightly, I think, has no limits. It requires initiative, organization, research, and a new facing culture. And what else, I’m trying to say, could be economic and financial education, if not openness through knowledge to the safest paths to wealth, well-being and financial inclusion,” said Mogor Esuriscu.

According to the governor, the results of this study are not new. At the end of the seventies, the academic Mircea Malleta, the only Romanian member of the Club of Rome, presented his report with the title suggestive. “There is no limit to learning”, Positively oriented towards knowledge-based development, in contrast to the first report entitled “The Limits to Growth”, which called for restraining economic growth in almost all countries around the world, and predicted the depletion of the planet’s natural resources.

He said that in NBR, the team that launched the reform in September 1990 towards a two-story, market-economy banking system was aware of these things and that was why the central bank was still talking about financial education in a broad sense since 1991.

“We knew it simply at that time. We created since 1991 and subsequently developed, including by building a modern and solid physical and professional infrastructure, the Romanian Banking Institute. Since 1992, the Bank has regularly provided the public with unified information packages, both for general culture and for To provide a useful database for analysts. The bar of information flow has been constantly raised by regular series of events: press conferences, banking financial seminars, seminars and conferences, Isoriescu said.

He said that financial education also includes a change of mindset and that “many mindsets that do not correlate well with the market economy are firmly rooted in our culture,” and a concerted and joint effort is beneficial.

What is “Borderless Learning”?

This report examines how learning can help bridge the gap between people. Learning must be understood in a broad sense that goes beyond traditional terms such as teaching and education. For the authors, learning means an approach to both knowledge and life that emphasizes human initiative. It involves acquiring and practicing new methodologies, new skills, new attitudes, and new values ​​necessary to live in an ever-changing world.

Lifelong learning is the process of preparing to deal with new situations. It may or may not emerge consciously, usually from experience of real-life situations, although simulated or imagined situations can also stimulate learning. Virtually every individual, learner or not, experiences the learning process – and perhaps none of us are currently learning at the required levels, intensity, and speeds – to deal with the complexities of modern life today.

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