Whatever Happened to Penny Candy? A Fast, Clear, and Fun Explanation of the Economics You Need For Success in Your Career, Business, and Investments (An Uncle Eric Book)
by Richard J. Maybury
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Book Summary Information
Author: Richard J. MayburyEditor: Jane A. Williams
Edition: Paperback
Audio: English (Original Language); English (Unknown); English (Published)
Published: 2004-05-15
ISBN: 0942617525
Number of pages: 190
Reading Level: Ages 9-12
Publisher: Bluestocking Pr
Book Reviews of Whatever Happened to Penny Candy? A Fast, Clear, and Fun Explanation of the Economics You Need For Success in Your Career, Business, and Investments (An Uncle Eric Book)
Book Review: Good book on basic economics - worth buy
Summary: 5 Stars
Using LinkedIn I've recently connected with a friend from twenty years ago. We've exchanged some emails and will try to get together when he is back in town. When my friend learned that I had three daughters he recommended several books by Richard J. Maybury. I requested a couple from my library. The first one I got was What Happened To Penny Candy?
What Happened To Penny Candy? is a short book of 80 pages. It is a quick read. The book is structured as a set of letters from "Uncle Eric" to his nephew "Chris." In these letters the book explains the basics of economics. It does a good job. Over the last thirty years I've read dozens, maybe even hundreds, of books on economics. This book does a good job of covering the basics. I even learned a few things. For example I didn't realize that the reason quarters and dimes were lined with the little ridges on the side was to show if little pieces were clipped off the coin.
Richard Maybury, the author, writes from a strong Libertarian viewpoint. He explains why government manipulation causes problems. Someone who feels government is the solution to economic problems will not enjoy this book.
I'll return the book to the library and buy my own copy. I plan to have each of my daughters read this book. It is short enough that they won't fuss too much about having to ready a dry topic. Economics is an important subject, one that I want my daughters to master.
Summary of Whatever Happened to Penny Candy? A Fast, Clear, and Fun Explanation of the Economics You Need For Success in Your Career, Business, and Investments (An Uncle Eric Book)
In "Whatever Happened to Penny Candy?" Richard Maybury uses historical events from Ancient Rome to explain economic principles. This clearly written book about economics is a remarkably easy and fun explanation of investment cycles, velocity, business cycles, recessions, inflation, the demand for money and more. Essential for every student, businessperson and investor. Recommended by former U.S. Treasury Secretary William Simon. It is also on many recommended reading lists.Can be used for courses in Economics, Business, Finance, Government and Ancient Rome. To improve the student's learning experience, also purchase the student study guide for "Whatever Happened to Penny Candy?" titled "A Bluestocking Guide: Economics" also available through Amazon.com.
Table of Contents for Whatever Happened to Penny Candy?
Acknowledgements
Study Guide Available
Preface
Note to Reader
A Note About Economics
Smart
1. Money: Coins and Paper
2. Tanstaafl, The Romans, and Us
3. Inflation
4. Dollars, Money, and Legal Tender
5. Revolutions, Elections, and Printing Presses
6. Wages, Prices, Spirals, and Controls
7. Wallpaper, Wheelbarrows, and Recessions
Boom and Bust Cycle Since the Civil War
8. Fast Money
History Repeats
9. Getting Rich Quick
10. The Boom and Bust Cycle
11. How Much is a Trillion?
The Roaring 90s
Federal Debt Chart
12. What's So Bad About the Federal Debt?
An Interesting Exercise
One Reason Governments Spend So Much
13. Summary
14. Where Do We Go From Here?
15. Natural Law and Economic Prosperity
Nations and Legal Systems
Appendix (not a complete listing)
Supply of Dollars Chart
Real Wages Chart
Quotes
Median Income Chart
The Oil Myth
How to Invest in Gold and Silver
Measures of Money Supply
The Truth About Inflation
Real Investment Value
Resources
Internet Addresses
Book Suppliers
Distilled Wisdom
Bibliography
Glossary
Answers to Exercises for Real Investment Value
Index
For Further Study (also available through Amazon.com)
Economics: A Free Market Reader
Contains articles by noted economists that expand on the concepts presented in Penny Candy. Study questions/answers included.
Capitalism for Kids
Explains the philosophy of entrepreneurship. Excellent information for both kids and adults. Includes a test to help kids determine if they have the personality to become an entrepreneur
Common Sense Business for Kids
Explains common sense strategies behind basic business principles. Gems of wisdom for the businessperson (young or experienced) conveyed through real-life stories and anecdotes. Though written with young people in mind, this book is engaging and beneficial for adults as well.
Whatever Happened to Justice? rev. ed.
Explains the common law model. Maybury says, "In my opinion, you and your family and friends will avoid a lot of trouble, and find success of every kind easier to achieve, if you adopt these two models, Austrian economics and common law. 'Penny Candy' explains the Economic model. Now, read 'Justice' for the Legal model. Underlying common law are two basic rules: 1) do all that you agreed to do and 2) do not encroach on other persons or their property."
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