BUSINESS EDUCATION

There are two types of business education. One is vocational, the other is a consumer. The former prepares for a position in the business. The latter prepares one to use his personal resources intelligently. Vocatio training qualifies one to be a producer of goods or services. Consumer training qualifies one to buy those goods and services on terms that give the most real value for one's money. Every boy and girl needs both kinds of training. Vocational training is needed so that the transition from school to a job may be easily made. Consumer training is needed so that wages earned may be wisely used.

It has been said that we are a nation of economic morons. what does that mean? Just this; that we have no real sense of value when we buy something. We buy what we want as long as we have the money to pay for it. When our money is gone, we use all the credit we can obtain. We pay whatever amount is asked without being sure that it is not too much. We give no thought to the needs or wants of the future-tomorrow or next month. What we want today we buy and spend the money. We don't bother about the future.

It should be explained that we are really "economic morons". We really are "economic illiterates". What is the difference?. The result is the same. We spend on things we should not have and pay too much for what we get. There is a real difference, though. A moron is one who has a very low mentality and what he can learn is relatively little. An illiterate is one who does not know very much but has the ability to learn a great deal. So you see most of those who waste their money do so, not because they cannot learn how to use it, but because they have never been taught the value of money and the best way to get the most for it.