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5 August 2018
Vernon Smith, 2002 Nobel Prize winner in Economics considers this a “great book for my grandkids and their parents”.
Economic blindness has dire consequences. The world is pushed back into the Dark Ages every time an ignorant politician winds the clock back on trade and prosperity.
Educating children well in economics is one of the most important projects of our time.
Economics is about things that are hidden from sight – the series of actions and interactions among humans. Not for nothing did Adam Smith think of the market’s invisible hand. Later, Hayek told us about spontaneous order. The source of this order is visible only to economists.
It remains a challenge to explain this to the ordinary, untrained person. Our daily actions influence production not just today but across generations. Think of the effects of socialism in driving the best talent of innumerable countries to the USA.
This little book simplifies the insights of economics for every child. After reading this book, every child will begin to appreciate the power of markets and the risks of government interventions. This book is intended mainly for children between the ages of around 10 to 16 but anyone to the age of 100 can benefit from it.