Books: Steve Forbes, Nathan Lewis & Elizabeth Ames's 'Inflation

The Berenstain Bears is a collection of “First Time Books” with a devoted following among young kids, along with parents who used to be young, and who used to be devoted readers of the series. The books seemingly cover everything, including the Tooth Fairy aspect of losing a tooth.

When Sister Bear feels her first tooth loosening, she begins to contemplate with excitement the dollar she expects the Fairy to place under her pillow. From there, she imagines the various toys and sweets that she’ll be able to purchase with her dollar.

Without a hint of hyperbole, Sister Bear’s thoughts about a dollar and what it might command in the marketplace provide more insight into money than readers will find in just about every economics opinion piece, report, and book on earth. Money isn’t on its own wealth as much as it’s an agreement about value among producers that facilitates the exchange of goods and services. Broadly accepted “money” means that the vintner can purchase bread from the baker even though the baker only desires the butcher’s meat.

 

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