Monday, September 20, 2021
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More knowledge about Bitcoin than about the ECB

A clear majority of adolescents and young adults in Germany have noticeably suffered from the effects of the corona pandemic and feel abandoned by politics. This emerges from the 2021 youth study by the banking association. 85 percent of those surveyed between the ages of 14 and 24 say that politicians did very little for them during the pandemic. 82 percent felt they were disadvantaged compared to older people.

“Young people have suffered greatly from the contact restrictions, the lack of classroom teaching at schools and universities and the closed sports clubs. The younger ones must not be the losers of the corona pandemic, “says Managing Director Andreas Krautscheid. The results of the youth study should be understood as a clear appeal from young people to political decision-makers.

Despite the Corona experience, young people are optimistic about the future. 83 percent are confident, 87 percent say that they are more likely to be satisfied with their life. Nevertheless, concern is also expressed: Four out of ten respondents (44 percent) say that they see their future prospects as being somewhat (36 percent) to severely (8 percent) impaired by the pandemic.

The young seem to be quite interested in economic education. Almost three quarters of the participants would like more information in school about economic issues. More than three quarters (77 percent) demand the introduction of a separate subject economics. There are gaps in knowledge to fill: 86 percent of the participants did not even begin to know how high the current inflation rate is in Germany. 83 percent could not name the task of the European Central Bank (ECB). In the last survey in 2018, more than half of the young people were able to do this.

But: 41 percent say they know what a mutual fund is, and the majority of them can explain it correctly. 69 percent can explain what a share is, and an impressive 85 percent know what a Bitcoin is.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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