Galt's Gulch

A One Page Economics Lesson

Posted by strugatsky 8 years, 10 months ago to Economics
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Here's a one page lesson for high school students. The topic was chosen at random.

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  • Posted by Herb7734 8 years, 10 months ago
    To continue in this vein, I recommend "The Incredible Bread Machine" by Richard W. Grant. It was originally written as a satirical poem (Grandpa possibly of Poppa Possum) it was subsequently turned into a book which clearly explains free market economics. The frontspiece of the book contains a stanza from the poem:
    "People ask from where it came,
    Would very seldom know.
    They would simply eat and ask,
    Was it not always so?"
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    • Posted by strugatsky 8 years, 10 months ago
      I will ask my local library for a copy. They know me well there... They never have ANY of the books that I request. Wonder why?
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      • Posted by gafisher 8 years, 10 months ago
        I used to donate the good books our library didn't have, until I found some of them being sold - unused - at the library's annual used book sale.
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        • Posted by strugatsky 8 years, 10 months ago
          That's where I acquired most of my nearly 1,000 tomes. My local libraries got rid of pretty much anything worth reading and restocked the shelves with videos and abridged garbage. It's like Fahrenheit 451! I refuse to have my kids read the abridged trash.
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  • Posted by ISank 8 years, 10 months ago
    Fun, ill use it in my Econ and AP Econ classes this next school year.

    True Stuff,
    iSank
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    • Posted by strugatsky 8 years, 10 months ago
      I would you think that this could be a fun assignment that can drive home the message. Have the kids come up with any scenarios and then have their opposing partner take it apart! This would get them involved and demonstrate something that most adults nowadays don't seem to grasp.
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  • Posted by nln1219 8 years, 10 months ago
    Just reading these pages is a joy! How about I swear by my life and love of it that I will never swim in anyone else's kiddie pool, nor require them to swim in mine.
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  • Posted by freedomforall 8 years, 10 months ago
    How about an example?
    Australia is an island, a very very big island about the size of the 48 contiguous US states with coast line as every border.
    The population of Australia is about 22 million, or about 1/16th that of the USA.
    As a result Australia has beaches galore per capita compared to the US.
    On a major holiday, you can go to the beach and have a choice of mingling with others without any crowding or just as easily walk for miles on a near empty gorgeous beach not far from your home.
    However, to protect the swimmers, Australia's beaches have very narrow (~200 meters wide) strips of sand and water with flags on each end that are patrolled by life guards, and you will be fined if you swim outside the flagged areas.
    Olympic champion swimmer, are you? Sorry, pal, you get fined unless you swim where they say you can swim... in the crowd with all those other people in your way.
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    • Posted by $ MichaelAarethun 8 years, 10 months ago
      Some of them are marked for families and some of them are topless and some of them are nude beaches. In an country that has a never ending coastline and is bigger than the lower 48 they cannot life guard every grain of sand. They also have more poisonous insects, reptiles and marine life than most places. On the other hand I didn't have any problem swimming from the family beach to white tip beach in the Surfers Paradise area. Until I got there. Clothing was not an option. Hence the name white tip. lucky me. That's the explanation I was given while trying to borrow suntan lotion. Australia is a purpose built socialist country. What's our excuse?
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      • Posted by strugatsky 8 years, 10 months ago
        And I don't really have an issue with people that want to voluntarily put themselves in jail, believing that it is safer there (it's not). I just have an issue when they put me in jail along with themselves.
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        • Posted by $ MichaelAarethun 8 years, 10 months ago
          Don't disagree. I go my way and take responsibility. In that particular case it was well worth the swim. Wasn't the only time. I wear a helmet most of the time on a motorcycle. I'm anal with scuba safety. I did get the suntan lotion applied.
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  • Posted by Scoutmom 8 years, 10 months ago
    There's a big section missing in that. The lifeguard needs to be trained and there's all the regulations and guidelines for the type of training, the limitations of training, the liability assumed by the lifeguard, the lifeguard's competence testing (to strict government standards) and their continuing education, requalification and licensure. More jobs! More regulation! More control! Aren't you happy how safe you are?
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  • Posted by wiggys 8 years, 10 months ago
    since economics is a term that high school age people do not understand nor the concept of what economics is they will never understand the example.
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    • Posted by strugatsky 8 years, 10 months ago
      Ah, but the actual example that Freedomforall posted above would strike a cord with the high school crowd. Otherwise, yes, the federal school system sees to it that the hatchlings don't ever become smarter than the chickens. That's why it's so important to squeeze whatever one can early on so that perhaps some years down the line, the seeds may take root.
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  • Posted by CircuitGuy 8 years, 10 months ago
    the narrative should admit aloud that the "socialist" system might be safer. In the free system, many good smart people will make a mistake and die. If our goal is to be perfectly safe, we should consider making our society into a huge jail. Freedom is not free.
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    • Posted by strugatsky 8 years, 10 months ago
      Yes, I am stating that there is a risk of drowning. Everyone is to gauge that risk by themselves. However, the risk of drowning in a socialist system is perhaps the same, or maybe even more. Since one does not need to rely on his own skills, but entrusts himself to the State, the responsibility has been shifted, but what evidence is there that the State, comprised of people who are much less interested in your survival than you would be, would be better at protecting you than you would yourself? Expanding the topic, I would point to the Second Amendment issue - an armed citizen is much more likely to protect himself than the State can. Likewise, a person choosing his own medical care will be better served than in a VA hospital. Perhaps it could be made into a challenge - is there an area where government is better than relying on free markets? If there is such an area (I'm not aware of), the huge preponderance of free market benefits and socialist stupidity should become apparent even to a child.
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