Pedagogical Praxis for Reflection on Issues in Financial Crises

Abstract

This paper illustrates how a Freirean pedagogical framework can be applied to promote a praxis of critical reflection on financial crisis and its educational impact. Freirean pedagogical praxis eschews the 'banking' approach where an expert deposits facts in novice minds, seeking rather to create a dialog where teachers and students critically explore how the world is, how its participants interpret their world, and how ordinary actors might make their world a better place. Participative activities were developed to encourage student exploration of the causes and supporting circumstances associated with major financial crises with particular emphasis on the subprime crisis of 2008. The paper suggests the process can be of benefit even when population numbers and the pedagogical aims are inconsistent with an attempt to measure or promote an expert's preconceived notion of the 'appropriate' cognitive or behavioral outcome. The findings tentatively corroborate prior theoretical speculation about the shortcomings of brief classroom coverage of ethical issues without sufficient attention to in depth reflection.