I think economics should be taught to children, not for the reasons you express, but because it seems perverse that I spent time at school learning about Vikings, Oxbow lakes, volcanoes, Shakespeare and Castles, but not about the economic system of resource distribution that surrounds me for the rest of my life. When I was about 9 I remember asking why ‘they’ didn’t just print more money until everyone had enough. I was fortunate to have parents who could give a good answer, not everyone will be.
My favorite answer to “why ‘they’ didn’t just print more money until everyone had enough” is that after the USA left the gold standard in 1971, the US government really did just print more money.
Meanwhile, >50% of the federal budget goes to healthcare and pensions. In this way, the US government kind of is just printing money until everyone has enough. In this way, the US government is doing what voters demand.
I think economics should be taught to children, not for the reasons you express, but because it seems perverse that I spent time at school learning about Vikings, Oxbow lakes, volcanoes, Shakespeare and Castles, but not about the economic system of resource distribution that surrounds me for the rest of my life. When I was about 9 I remember asking why ‘they’ didn’t just print more money until everyone had enough. I was fortunate to have parents who could give a good answer, not everyone will be.
My favorite answer to “why ‘they’ didn’t just print more money until everyone had enough” is that after the USA left the gold standard in 1971, the US government really did just print more money.
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Meanwhile, >50% of the federal budget goes to healthcare and pensions. In this way, the US government kind of is just printing money until everyone has enough. In this way, the US government is doing what voters demand.