Carolina Müller-Möhl
President of Müller-Möhl Group Zürich
Young people are increasingly the target of
advertising campaigns that encourage
consumption. In Switzerland, studies show,
that every third teenager now carries a debt
burden that averages 500 Swiss francs. In
the United States, young people's credit card
debt has more than doubled over the past
decade. A key issue in research investigating
the impact of youth advertising relates to the
inability of young people to effectively eva-
luate claims made by advertisers. Without
a basic understanding of economic fundamen-
tals, young people are often defenseless in the face
of enticing commercials, brand popularity and peer pressure.
Through "Learn Money", a Young Global Leader initiative first
presented at the World Economic Forum in Dalian in 2009, my lobbying efforts aim to address these developments by establishing a basic economics curriculum in high school education programs. Our work also focuses on the development of media campaigns to increase financial literacy among the young, and to encourage leaders in education, the financial sector and the political arena to support this and other initiatives.