Understanding Economic Theories and Practices

How is that for a intellectual-sounding title? I took Economics during my senior year of high school because it was required. The only thing that I remember from that course was the first day of class, when my teacher thanked us for making the choice to attend his class. Needless to say, there was an uproar which ended in the explanation that we had to choices:

1) Attend his class.

2) Ditch his class.

Both were accompanied with consequences. We choose to attend because the consequences/benefits were more appealing or less horrific, depending on how you look at it.

That’s it. That is the grand sum of what I remember about Economics 101. Since that time, I have had zero interest in Economics. That is until 3 weeks ago when I began reading Whatever Happened To Penny Candy by Richard. J Maybury, part of our Core 5 curriculum.

It never ceases to amaze me when I find out, yet again, that a subject which was presented as extremely boring and tedious during my stint in government school, is actually fascinating!

Rabbit Trail—> If you are a parent educating a child through the government school system, please, please, please do not see this as a judgment or insult directed at you. It is not. I understand that homeschooling is not for everyone. In fact, I loudly proclaim that it is not. I call these government schools because that is what they are. They are paid for and run by the government. Period.

Back to Economics. Did you know that rising prices are not inflation? They are a result of inflation. Inflation is actually when the government puts a greater amount of currency into circulation. They inflate the money supply. Did you know that the recession/depression cycle is caused by inflation?

With the strongest possible force, I recommend this book. Read it to your kids. Read it yourself. Explain it to someone. It will inspire you on many levels.



2 responses to “Understanding Economic Theories and Practices

  • Luke

    One more winner from Sonlight [smile].

    And while we're on the topic of economics, it's not actually the government that pays for stuff (since they don't generate money themselves). Rather, the government allocates tax payer's money to government schools. …and a lot of it [smile].

    Glad you are enjoying economics. Learning can be such a joy!


  • Annemarie

    Point taken, Luke. 🙂

    It is an interesting thing to think about, though. When I start to think about how much “control” the taxpayers have over the system, I am left with the impression that even were one to be successful in changing something that they found to be less than excellent in the school system (and I am talking about an addition, not a deletion, which would probably be enacted a bit quicker depending on the grounds) it wouldn't happen until their children were out.

    Turning around an aircraft carrier, so to speak.

    I went to the local public library today and since I know the Children's librarian, I went to her to recommend Whatever Happened to Penny Candy, seeing that they had absolutely no books on Economics in the Children's section. When she found out that it was published before 2005, she told me that she was not allowed to buy non-fiction books that were that old. It was published in 2001. 😦


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