Charlottesville, VA (CVILLE RIGHT NOW) – University of Virginia economics professor Ed Burton opened an interview on WINA Morning News by emphasizing the critical importance of personal responsibility and financial literacy for today’s students. “What really matters in life is the ability to organize yourself, show up on time, and be responsible,” Burton explained, urging students to develop the skills necessary for both personal and professional success. He stressed that financial literacy is not just about managing money but understanding the broader economic systems shaping their futures. 

Burton also touched on the financial awareness of today’s students, noting a shift over the years. “The average student that I face today compared to 20 years ago is actually significantly stronger…and better versed,” he said, despite his economics class sizes shrinking from 300 to 130. He praised his top students for their organization and drive, explaining that success is often tied to personal responsibility. 

Burton highlighted the growing disparity in wealth and income, emphasizing the struggles faced by low- and moderate-income individuals as they juggle rent, gas, and insurance costs. “It’s a nightmare,” he stated, describing the daily challenges. While the wealthy are doing well, he argued that “capitalism was the best thing that ever happened to poor people because that’s their only engine for doing better.” However, he stressed the need for more opportunities for the bottom half of the income distribution, particularly through better education access, and believes market-driven solutions, not government programs, offer the most promise for upward mobility. 

Listen here for more information: