Financial literacy makes a major impact to the soundness of the financial system. The RBA believes that borrowers in a financially educated society will be less likely to take on more debt just because credit is easily accessible. The Bank argues the borrowers will have a much better chance of riding out an economic recession without defaulting on their debt repayments. This, in turn, will help minimize the bad debt experience of financial institutions and therefore, help strengthen the health and efficiency of the financial system.
Members of Congress from both parties do not argue with the
reports and reviews of the CBO because its nonpartisan and thus does not lean
on either side of the political divide. Its reports and reviews are unbiased
and objective aimed at ensuring prudent use of public resources
The emergence of agriculture allowed humans to create permanent settlements with the hope of a stable food supply. ... Increasing temperatures opened the door for humans to learn how to cultivate wild plants, while new tools allowed humans to better manage crops and increase crop yields.
