The American economy, clearly more than most, is in the grip of what the eminent Harvard professor Joseph Schumpeter many years ago called “creative destruction,” the continuous process by which emerging technologies push out the old.
Governments and even private stakeholders should provide resources; the amount of resources is a critical requirement for success. Supervisory authorities could play a significant role in implementing the actions undertaken. Bank of Italy, in coordination with the Ministry of Education, is developing a project to introduce financial education in the school curricula in a systematic way.