Economics Book for Kids

Miscellaneous General
1

“Under the Staircase: Meeting Milton” An economics text for kids.

At first I thought this could be a neat idea. After all, there are plenty of other science books aimed at children (biology, archeology, etc). Why not economics?

Then I watched the video and I’m not so convinced that this book is about introducing kids to the science of economics. At one point she says that if you don’t teach your kids economics, then someone “that doesn’t share your values” will.

Since when did economics become about values? Then I looked at some of the other books in her series and I saw she was going to wite a book on Ayn Rand. Then I was very depressed. :frowning:

2

Since when did economics become about values?

1. https://en.wikipedia.org/wiki/Das_Kapital

In Capital: Critique of Political Economy (1867), Karl Marx proposes that the motivating force of capitalism is in the exploitation of labour…

  1. http://www.marxists.org/reference/subject/economics/keynes/general-theory/ch24.htm

THE outstanding faults of the economic society in which we live are its failure to provide for full employment and its arbitrary and inequitable distribution of wealth and incomes…

[Keynes then proposes some govt meddling].

Now, though this [govt meddling] state of affairs would be quite compatible
with some measure of individualism, yet it would mean the
euthanasia of the rentier, and, consequently, the euthanasia of
the cumulative oppressive power of the capitalist to exploit
the scarcity-value of capital. Interest today rewards no gen-
uine sacrifice, any more than does the rent of land.

  1. Bottom line, in theory Economics is “value free”. In practice, the various folks who got it wrong and offered their version also had an agenda, as they freely admit.

The mainstream teaches a combination of those two mistaken economic theories an dtheir accompanying agendas. So she is quite right that the so called economics our kids will be taught will have a value system attached to it.

3

If you have kids read them these as bedtime stories

And then they will go to school and learn about the fabel of the bees and how everyone will be poorer if we don’t go to the mall and spend away our paychecks

How an Economy Grows and Why it Doesn’t by Irwin Schiff

How an Economy Grows and Why it Crashes by Peter Schiff the modern version

4

I think that the inherent problem with economics in this context when compared to most other sciences is that there’s a good deal of contention between the various schools once you get beyond basic micro. There’s no way to go through any but the basics without contention, and obviously even then the fact is that there will be some from the point of view of behavioral, Marxist, and Austrian economics.

I think that she has a point though, since economics in many respects is a directly political science and the economics taught in the public education system is horrendous by any but the most moronic standards.

The fairest and closest thing I’ve seen to what we’re talking about is this, but it’s not exactly a children’s book by any stretch of the imagination.

5

As soon as one actor violates the NAP, the economic activity that ensues becomes about values.

You are looking at things the wrong way. I suggest that you look at economics as if it were any other science. Now imagine if all children learned false science. In the field of economics, the acceptance of false science perpetuates injustice that is hidden from the public.

6

Charles,

Student IS looking at economics like any other science. Economics has nothing to do with ethics. Despite dealing with values it is is a value-free science. The NAP has nothing to do with economics except insofar as it frames our inquiry. We do not look at whether a bridge should be built when we are looking at the principles of engineering, rather we understand the positive principles that form a science before we begin examining the normative implications.

7

NeoDoc,

You are misapplying your own analogy.

To follow your analgy, what I am saying is that children can learn the correct science to build bridges but if they learn the wrong science, they may build sloppy bridges. Furthermore, they can also learn the correct science to build bridges that are deliberately designed to fail or to build boobie-traps or bombs or FreedomFighting in the middle East to perpetuate the petro-dollar etc. etc. etc.

Can we all agree on one thing? We all believe that the NAP identifies morally correct behavior?

If you do not agree with me on the above, then forget my argument.

Let me rephrase my position.

By teaching children our Austiran economic approach [the correct scientific approach to economics or engineering], I would hope that my children develop an astute understanding of analyzing human action such that it will lead them to identify when the NAP is being violated better than their peers do – in the off-chance that it may interest them to look at morality in applying the correct scientific approach to day-to-day life. I would hope that my children do not choose to apply Austrian economics or the correct enigneering principles to design nefarious ways to screw the tax-payer or to build traps and bombs.

The mainstream schools of economics obliterate the lines in economic transactions so that it is impossible for the average person to see that we are essentially dealing in 2nd, 3rd, 4th, 5th, etc. (to infinity) order stolen goods. That would not be the case in an anti-state society.

I cite the minarchists as an example. They understand property rights the way we do — more or less — however, they switch gears for MORAL reasons when it comes to state monopolization of the money supply, justice and security. They control the morality of economics because nearly 99% of the population reflexively believe that the money supply, justice, security, the courts and the civil service are God-given immutable realities.

SHORT VERSION: I want to teach my children a moral code and the NAP is it! By teaching my children the Austrian approach, it is the best way for me to teach my children to understand injustice in our economy.

8

There is an article that mentions a few more kids books for learning economics:

http://www.lewrockwell.com/orig8/econ-kids.html

These two books by Bettina Bien Greaves are mentioned in the article, and are geared more towards high school age children. (They also have EPUBs created by me):

https://www.mises.org/document/3128/Free-Market-Economics-A-Basic-Reader

https://www.mises.org/document/3129/Free-Market-Economics-A-Syllabus