The next 25 years of the U.S. investment sector hinges on greater financial literacy, says Mellody Hobson, president of Chicago-based Ariel Investments and chair of DreamWorks SKG.
Financial literacy should "start much earlier than college. I think you need to start in grade school and at the very minimum, in high school," Hobson said in an interview with CNBC "Mad Money" host Jim Cramer on Thursday.
She said many schools provide necessary extracurricular activities, with funding that could be used for financial literacy instead. "It always amazes me that you could take a class today in high school in woodshop or auto and not a class on investing," said Hobson, who sits on the board of EsteeLauder and Starbucks.
The wheels nearly came off when the Great Recession hit and a lot of people are still spooked out, afraid to jump back into it, Hobson said.