MEDIA
MEDIA
A Sit Down With Chairman and Editor-in-Chief Steve Forbes
By Jamie Grill-Goodman
Steve Forbes is as busy as ever . In addition to his work at Forbes Media , the Jersey-born media magnate tallies an upcoming keynote , a new book , and a new series of inspirational stories among the items on his plate .
On October 24 , he will deliver the keynote for the 97th Annual Meeting & Luncheon of The Commerce and Industry Association of New Jersey ( CIANJ ). The event celebrates CIANJ ’ s more than nine decades as the voice of New Jersey ’ s business community , and Forbes – in addition to his decades as a publishing executive – boasts strong New Jersey ties . He was born in Morristown , NJ ; graduated from Princeton University ; and Forbes Media is currently located in Jersey City , NJ . After Forbes kicks off the event , the Annual Meeting serves as forum for NJ business leaders to network and share industry trends .
In addition to prepping for the upcoming keynote , the Steve Forbes On Achievement series ranks among Forbes ’ s latest undertakings . The series – produced by izzit . org ® , the educational affiliate of Free To Choose Network ® , a global media nonprofit organization – presents inspirational stories from history ’ s greatest innovators .
The author of several books also just released his latest : Inflation : What It Is , Why It ’ s Bad , and
How to Fix It . Co-authored by Nathan Lewis and Elizabeth Ames , the book discusses “ what ’ s behind the worst inflationary storm in more than forty years .”
Despite his many endeavors , COMMERCE Magazine was able sit down with Forbes to capture his latest views on financial literacy , NJ economics , and publishing businesses .
Jamie Grill-Goodman : Financial literacy for students is a passion project of yours . Why is teaching financial literacy so important for today ’ s youth ? Steve Forbes : Understanding money helps develop critical thinking skills . Learning to save or adhere to a budget , for example , encourages clear thinking and establishing priorities . You have to ask yourself , “ What is important today – and what will I need in the future ?” This kind of discipline helps foster independence and self-reliance . Financial literacy also teaches how to handle credit . You learn about things like the dangers of compounding interest – which entrap so many young people who get ensnared in credit card or student loan debt .
Grill-Goodman : How is izzit . org supporting this mission ? Forbes : Not-for-profit organization izzit . org supports literacy by supplying educational resources to educators and students on subjects ranging from student loans to entrepreneurship . The channel provides an array of superb videos as teaching tools , accompanied by teacher ’ s guides and other educational material – all at no cost to subscribers . Over the past 18 years , izzit . org teaching tools have been used in classrooms nationwide , by more than 450,000 educators and millions of students .
Grill-Goodman : Tell me about how Steve Forbes On Achievement presents stories from history ’ s innovators and what your goals for the videos are ? Forbes : Steve Forbes On Achievement introduces students to innovators whose achievements have shaped the modern world , yet are often taken for granted . Achievers profiled include people like George Eastman , who made photography affordable for everyone ; Margaret Rudkin , whose health bread recipe led to the blockbuster success of Pepperidge Farm ; and Annie Malone , developer of hair products who was very likely the first African American woman to become a millionaire . Each video is under four minutes and teaches the importance of creativity , persistence , hard work and why achievement flourishes in a free enterprise system .
Grill-Goodman : You also have a new book out , Inflation : What It Is , Why It ’ s Bad , and How to Fix It . What are important takeaways for readers ? Forbes : The foremost cause of inflation is when the dollar – or any currency – loses value . What happens when the value of the dollar goes down ? Prices go up . Our book is about the different ways this disaster takes place . The best way to fight inflation is to stabilize the value of the dollar .
American business magazine Forbes was founded in 1917 by Bertie Charles ( B . C .) Forbes . His grandson , Steve Forbes , is Chairman and Editor-in-Chief of Forbes Media .
Grill-Goodman : You were born in Morristown , New Jersey . What are your thoughts on how the upcoming election results may impact NJ businesses ? Forbes : New Jersey ’ s economy was once the envy of the country . The state grew faster than the nation as a whole . It suffered less from an economic downturn and rebounded faster . Today the state is a national laggard . People and businesses are leaving thanks to high taxes and onerous regulations . That ’ s why the coming 2024 elections are especially critical . Will government or free enterprise determine the direction of the economy ? In so many ways New Jersey has been going in the wrong direction for a number of years .
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