Karl Hess, modern Renaissance man, wrote Capitalism for Kids to help students understand the nature and responsibilities of business venture. He avoids technical language while laying a strong foundation for understanding economic and financial principles.
A confirmed libertarian, Hess believes kids can do much more than modern American society gives them credit for. He also believes they should be allowed to make decisions and be taught to work. He sees these as the foundations of capitalist society.
The book begins with an introduction to parents and teachers outlining Hess's theories. The essence of a free society is capitalism because it's the only system that allows individuals to make their own choices and direct their own destinies.
Eleven chapters follow, including a defense of money-making, an outline of major economic theories, information about investment, business licensing and laws, etc. Hess encourages self-reflection to help students understand their personality and what specific difficulties they may encounter.
The importance of personal character and good decision-making are emphasized. This is a good introduction to capitalist business ownership and practice, but not to economic theory. You may want to have your students read Common Sense Business Practice for Kids before this one. A good follow-up text is Henry Hazlitt's Economics in One Lesson.
Review by C. Hollis Crossman
C. Hollis Crossman used to be a child. Now he's a husband and father who loves church, good food, and weird stuff. He might be a mythical creature, but he's definitely not a centaur. Read more of his reviews here
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