EDUCATION STANDARDS:
- How is economics about scarcity, investment, growth, employment, competition, protection, entrepreneurship, and markets?
- WHAT is CAPITALISM? What are its BENEFITS and PROBLEMS?
- What does it mean to be economically LITERATE?
- How do worldwide markets EFFECT me?
I – ECONOMISTS (a “common core:)
ECONOMICS SURVEY
video (15 minutes) and reaction (write)
QUOTES – QUIZES
Adam Smith
Milton Friedman
Thomas Sowell
Karl Marx
F.A. Hayek
Milton Keynes
QUOTES QUIZ (40 questions)
QUOTES JEOPARDY GAME 1
ECON-o-CATION – “ECON-o-CHISMS”
SOCIALIST STREET – EPISODE #1 – The Neighborhood (Our Econ-Neighbors)
II – WHAT is CAPITALISM?
VIDEO – WALLET TEST #1 – Give Me Your Wallet – Capitalism
“”rights” and wrongs
trickle down wealth … trickle up poverty …
SMITH VS MARX
video (15 minutes) and quiz (30 questions)
Reaction – Write
INTERESTS UNLEASHED
video – (15 minutes) & quiz (30 questions)
ENTERPRISE vs ENVY
video (15 minutes) and quiz (30 questions)
altruism (“happiness”) vs alienation “misery”)
EQUALITY AND ENVY
SWIMMING POOL – BUCKET Simulation
Socialist Street – Episode #2 – Enterprise (makers) vs Envy (takers)
SUPPLY: SCARCITY (the Morality of More vs Logic of Less
WEALTH (more) vs POVERTY (less)
LEVEL-ing – LOBSTER SYNDROME – equality in MISERY
VIDEO – EQUALITY and ENVY (15 minutes)
QUIZ – 25 questions
Simulation – “PICK the PIE”
1995 HARVARD HEALTH STUDY – MAKE $50,000 (others $25k) vs MAKE $100,000 (others $200k)
EQUALITY – opportunity vs. outcomes
Socialist Street – Episode #3 – “Bolshevik Bernie and Bankrupt Bonita”
LEVEL-ing (equality in misery)
GOD of GOVERNMENT
“EXPLOITATION” and “OPPRESSION”
BLESSINGS (UN-equal – pursued) vs BURDENS (equal – provided)
SWIMMING POOL – BUCKET (redistribution vs rewards)
PROFIT (“Invisible Hand”) vs POWER (“Iron Fist”)
EQUALITY – opportunity vs. outcomes
MAKE $50,000 (others $25k) OR MAKE $100,000 (others $200k)
VIDEO – BOULDERS (taxes) and MOUNTAINS (regulations)
“PROFIT PIMPS” vs “POWER PIGS”
INVISIBLE HAND vs IRON FIST (economic profit vs political power)
ROLE of GOVERNMENT?
“INVISIBLE HAND” vs “IRON FIST”
MINIMUM WAGE – Opportunities vs Outcomes
III – ECONOMIC LITERACY – WHAT DOES IT MEAN?
COMMON SENSE vs COLLECTIVE NON-SENSE
video (15 minutes) and quiz (35 questions)
MORE (wealth – common sense) vs LESS (poverty – collective NON-sense)
“SOCIALIST STREET”
Episode #4 – Opportunity vs Equality (the MINIMUM WAGE)
MINIMUM WAGE – Opportunities (start) vs Outcomes (finish)
Episode #5 – ZERO SUM GAME (“Alienation”) vs RISING TIDE (“Altruism”)
SOCIALISM: TWO SIMULATIONS
SWIMMING POOL – BUCKET vs HOSE
SUPPLY and STIMULUS
A SOCIALIST SANDWICH …
COOPERATION (altruism – free) vs COERCION (alienation – forced)
PICKING “WINNERS and LOSERS”
“LOVE YOUR NEIGHBOR” (“persons”) vs “YOUR NEIGHBOR’s KEEPER” (“the people”)
Episode #6 – “SYSTEMS” – Capitalism, Communism, Fascism
GROW the PIE … CHARE the PIE … FIX (“favoritism”) the Pie
private private enterprise … public (collective) endeaver … collusion (corporate)
“free” markets … “fair” markets … “fixed”-“mixed” markets
competition (customers) … command (comrades) … collusion (corporations)
malls (profits) … gulags (power-politics) … “camps” (“purpose”-plans-engineering)
camps (recreation) … camps (re-education) … camps (redemptive-civic religion)
God … god-less … god-state
altruism (neighbors) … alienation (class warfare) … “agendas” (“it takes a village”)
“pursuit of happiness” … power (by any means necessary … “progress” (work will set you free)
enterprise (“free”) … equity (“fair”) … engineering (“fixed”)
opportunity (“free”) … outcomes (“fair”) … order (“fixed”)
“the JUNGLE” … the “GULAG” … the “CAMP” …
Main (any-everywhere) Street … Wall Street(New York) … “K” Street (lobbyists – Washington D.C.)
stores (small business) … stocks (corporations) …
“LOVE YOUR NEIGHBOR” (“persons”) vs “YOUR NEIGHBOR’s KEEPER” (“the people”)
‘PROFILES in PROFIT” – “SOCIALIST RE-EDUCATION CAMP”
PROVIDING a FISH (passive) vs LEARNING to FISH (pro-active)
Episode #7 – MARKETS – Health Care
Costs … Choices … Consequences; Equality vs Quality; Economics of Scale;
“PROVISION” (supply) and POWER
video – SOCIALISM – “exploitation” and “oppression”
VIRTUE (benefit “oppressed”) vs VICE (punish “oppressor”)
ALTRUISM (prevent oppressION) vs ALIENATION (punish oppressOR)
helping “worker” like O.J. “loved” Nicole
Episode #8 – DEBT BOMB
LITERACY TEST #1
IV – MARKETS
How do WORLDWIDE MARKETS EFFECT me?
COMMERCE (free) vs CONTROL (fascist-“fair”)
Markets are never entirely FREE; nor entirely FAIR”
GLOBAL vs LOCAL
Episode #9 – MARKETS – “MY PENCIL” (“Your Mouse”)
STOCK MARKET SIMULATION
BUILD a BUSINESS PROJECT
Episode #10 – EPILOGUE-CONCLUSIONS
ECONOMIC “LITERACY”?
LITERACY TEST #2