Our Daily Bleg: What Economic Concepts Should Kids Know?
This bleg comes from reader Wayne Smith, who asks for suggestions on which economic concepts are the most important for kids to learn:
What topics do the Freakonomics readers feel are most important to teach kids 8-13 years old? Aside, of course, from the fact that the man keeps you down.
I was listening to The History of Sesame Street audio book the other day and thought that it would be nice to come up with a YouTube show with decent production value that outlines basic economic concepts in an entertaining way. Concepts like capital, value, supply/demand, trade, time value of money, interest, saving and borrowing, opportunity cost, taxation,and so on. This would be more narrative than something like Khan Academy. Naturally each concept can have an episode devoted to it and each concept can be addressed in different ways in different episodes, but in scenarios geared toward kids. What do the readers think about this as a concept?
Did Women’s Lib Movement Increase Income Gap in the U.S.?
Reader Chris Fawcett writes in with an intriguing question: How did the women’s liberation movement affect the income gap in the U.S.?
Income inequality has been on the rise in the U.S. since the 1970s, roughly the same time that women began entering the workforce in large numbers. Considering the amount of attention the widening income gap gets these days as a source of our economic woes, it seemed like something worth posting.
Here’s how Chris sees the issue:
Read More »There are a number of ways I believe this has had a big impact (maybe the biggest impact of any single issue):
1. Women’s participation in the workplace has doubled in the past half century.
2. The divorce rate has increased steadily in the past half century.
3. It is more socially acceptable to not have children (through choice or abortion).
4. People are getting married later in life.In relation to the commonly used CBO “household” income numbers, I think these issues may have had a huge effect on the perception of the widening income gap as follows:
Which City has the Most Dis-Honest Tea Drinkers?
According to an experiment by Honest Tea, it’s L.A.
The company has placed unattended racks of its cold bottled tea on street corners in a handful of cities. A sign asks people to pay $1 per bottle, a heavy discount already. Viewers then “watched people wrestle with their conscience.” Hidden cameras live-stream the action here.
So far, the citizens of Seattle are coming out as the most honest, with 97% of people paying. Atlanta, Boston, Dallas and Cincinnati are in second with 96%. L.A. is last with 87% — they were actually at 90% earlier today, but that fell as the day went on, and the temperature went up. Here are yesterday’s high temperatures for the handful of cities, in order of payment rates: Read More »
A Teaching Moment on Numeracy
It’s an embarrassing episode. The opening sentence of James B. Stewart’s Tangled Webs: How False Statements Are Undermining America is:
“We know how many murders are committed each year — 1,318,398 in 2009.”
But this is false. As Jeffrey Rosen notes in a savage New York Times review, there were 15,241 murders in 2009. The cited number isn’t just wrong, it’s wrong by two orders of magnitude. Where did the 1,318,398 come from? It’s the number of violent crimes, which includes robbery, rape and assault. And only a small proportion of all violent crimes — a little more than 1 in 100 — are murders.
And so this provides a useful teaching moment for thinking about numeracy. How can you avoid such errors? Read More »
and 
. If you haven’t seen it yet, the movie features Steven Levitt and Stephen Dubner, and was made by a dream team of documentary directors. Paste Magazine named it one of the 