School of Education

Sarah K. Anderson and Calum M. Cooper offer a chapter in Holistic Financial Literacy titled Cultivating Enduring Social Responsibility in Financial Literacy: A Perspective from Scotland.

This chapter redefines financial literacy by challenging the traditional capitalist approach centred on short-term profit maximization and individual financial gain. Instead, it proposes a long-term holistic model that integrates global citizenship, equity, and sustainability. Grounded in the Scottish educational context, this chapter argues for financial education that not only equips individuals with practical skills but also fosters long-term thinking through ethical decision-making and critical awareness of cognitive biases. Using a theory adaptation approach, the chapter connects economic and social frameworks with inquiry-based pedagogical strategies to expand the scope of financial literacy education. It critically examines foundational financial literacy concepts and their role in addressing human financial knowledge deficits. Drawing from research in behavioral economics, actuarial science, and investment consulting, alongside lived experience in pensions and pedagogical expertise, the discussion highlights the importance of reinforcing the social contract between generations and positioning finance as a tool for social and economic justice. This reframed perspective offers a compelling direction for fostering not only individual financial competence but also a more just and sustainable society.

Anderson, Sarah and Cooper, Calum M. (2026) Cultivating enduring social responsibility in financial literacy: a perspective from Scotland. In: Lucey, Thomas A. (ed.) Holistic Financial Literacy Education: Laying the Groundwork. Routledge. ISBN 9781032967578 (doi: 10.4324/9781003590590-10)

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First published: 9 July 2026