An open yet hidden aspect of the so-called ‘Arab spring’ as also of events in Spain is the role of disaffected youth. But is this a political or a cultural phenomenon? If it is cultural, if it is because young people have not only tired of politicking but had never become keen on it, then there is reason for hope. Especially so, if their cry was to become “a task not a job”, and if they could be educated and funded to that end.

These two themes – the education and funding of young people – combine in the idea of financial literacy, a topic we return to unapologetically (the last time was September 2010). The issue is ever more alive, yet continues to be met with uninspired understanding of the role finance can play. As befits its importance, even urgency, we enter the subject with an essay by Arthur Edwards.

Educating for Initiative sets the stage for distinguishing between what is presently on offer, as ‘personal finance’, and what might better serve both young people individually and the economy generally, namely ‘societal finance’.

Sign of our Time follows by highlighting the provocative view of young entrepreneur, Scott Gerber. Gerber argues that, because a job is not what it used to be, young people are better advised to think how they can start-out with their own initiatives. Because the nature of work (and employment) is being gradually but radically transformed, so too must the way in which young people are given their bearings. Somewhat contrastingly, this month’s feature by Lauren Willis gives an insight into current thinking about financial education, but a thinking that accepts today’s monetary status quo and appears to give the state the main role and responsibility for financial education.

The AEX Pages includes news of a new website for associative economics along with details of some forthcoming events.

In Accounting Corner in link with our overall theme Stephen Torr discusses the topic of social investment.