Modern American's as a whole are too dependent on their employer's for income. Few know what is involved in starting and running a business.
A Business 101 class should be required of all high school students their freshmen year. Part of this class would involve every student forming their own sole proprietorship, partnership, limited partnership, trust, corporation, and LLC. The class should form a non-profit as a group project.
Extra credit is given to students who can bring a product or service to market, however all students will be expected to prepare their own legal documentation including tax filings regardless of their business's activity level.
A second advanced class being offered as an elective would involve the seed money process. The merits of venture capital, credit, small business loans vs. a lemonade stand/car wash would be explored.
Finally: the students will study the process of a corporation taking their stock public. Every student will be given a vote on the responsibilities of the teacher who will represent the CEO, and the teacher will have to balance priorities between a boxed chocolate business, and paying the students chocolate dividends. Students will then write a paper on why the boxed chocolate business customer satisfaction went up/down, and brainstorm market incentives for how a publically traded companies can improve their focus on long term success.
Another class may be dedicated to hiring employee's. The distinction between an "at will" employee, a contracted employee, a consultant, and an independant contractor will be explored.
Students will have to study the National Labor Relations Board, National Labor Relations Act, and other US Labor Laws, and will have to pay their instructor, plus social security, plus workers comp, plus unemployment insurance. Their instructor will then unionize, and the students will have to try and run their business without the use of an unfair labor practice.
Students will write a paper on topics including: the origin of unemployment, & the merits of hiring employee's vs. contracting the work to another business.
Finally: business students will partner with the "Law Students" in two cases:
-a mock trial surrounding two students caught engaged in computer crime: one representing a corporation, and the other as an individual.
-the same scenerio this time involving bankruptcy.