The Republican-dominated Ohio House has approved a plan that may need financial literacy courses now required in Ohio high colleges to include lessons on capitalism.
A legislation passed in 2021 that mandates high school students take a financial education program as an elected or in place of half-credit of mathematics is modified by the bill. The teaching of capitalism principles may be mandated by this bill as part of that course.
Rep. Adam Bird (R-New Richmond) stated that the bill only needs more capitalist concepts to be taught in the classroom and doesn’t need more time.
According to Bird, the act lists 10 or 11 education standards that should be a part of the program. Market prices frequently change based on supply and demand, according to them. It includes innovation and entrepreneurship that benefit the complimentary business.
This bill is unnecessary, according to Bu Rep. Joe Miller (D-Lorain), as elections are in session, there is a teacher shortage, and capitalism is already covered in history and government classes.
According to Miller, “This bill is a bad fix to the past General Assembly’s financial literacy bill and is mixed with ideological warfare, partisan messaging, and other issues.” If you’re just looking for election-related messaging, consider this: “If you support this bill, you are a capitalist; if you oppose it, your socialist.”
The bill didn’t increase the state’s charges, according to a financial evaluation. However, Rep. Sean Brennan (D-Parma), a former educator who has made it clear that he is “totally in favor of capitalism,” asserted that adding new standards necessitates spending hundreds more hours on research and revision of lesson plans.
Brennan stated, “We would never inform the Ohio business community that we are passing a law in this chamber that will increase the number of hours your employees must input and it won’t cost you anything.” Everyone is aware that time is money. The day of our teachers is just as important as anyone else’s.
In order to meet the financial literacy necessity, students could also enroll in Advanced Placement courses in economics or micro economics under the proposed legislation.
According to Rep. Bill Seitz (R-Cincinnati), advanced position in micro and economics does not satisfy the financial education requirement under current law. “It makes no sense in the world to penalize the most academically demanding type of curriculum, but by saying it doesn’t qualify when in reality it obviously ought to qualify.”
Additionally, SB 17 may permit mathematics instructors who do not have the necessary financial literacy permit validation to instruct the course.
Four Democrats joined all Republicans in supporting the bill, which was approved by a vote of 64 to 26. The act is now being sent back to the Senate for acceptance as a result of the changes.