Does your Financial Literacy level impacts the Economy?

I have a recurring question in my mind about personal finance and Economics being related. Here's what I found in the National Business Education Association's website

• The American Economy is based on a private enterprise system in which the millions of individual choices made by consumers, workers, and citizens, in sum, affect the decisions made by business owners and government officials.
• The preservation and effectiveness of such a system depends on the ability of individuals to make wise economic decisions related to their personal financial affairs, the successful operation of organizations, and the economic activities of the country.

Makes a lot of sense to me. It also calls for greater efforts to bring about higher levels of financial literacy and makes me proud of my own humble site.What do you think? Is there a case for personal finance education in the schools?