Thursday, June 5, 2008

Book review: Whatever Happened to Penny Candy? by Richard Maybury

My good friend Robin lent me this book and my 11yo son Caleb and I have been reading it. I thought I knew something about economics, but I realized I have a lot more to learn. This is a great book. It is written in an engaging, simple style yet teaches some profound concepts. My son liked it as much as I. It is eye-opening to follow the author's exercises for determining just how much inflation is eating away your wealth and how inflation is really the government's hidden tax on people which cause us to make investment mistakes that ultimately benefit the government. I highly recommend it. It is so important for us who wish to build a family legacy to be aware of our financial status and make wise decisions.
Find out what TANSTAAFL stands for. Find out what really causes inflation. Find out why a $50,000 profit can really be an $8000 loss with inflation. Read this book!

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