Easily the best introduction to economics for the young reader—because it covers both pure economic theory and also how markets work (the domain of most introductory books).
Robert Murphy has the right frame of mind and mastery of the subject matter to provide the best possible pedagogy. The logic is clear. The organization is impeccable. It achieves a great balance between “plain old” economics and that aspect of economic thought that is considered particularly Austrian. Therefore, it prepares the student for both conventional economic studies in the future and provides the logical rigor and policy clarity that only the Austrian school perspective can offer.
Here is the product of vast experience and daily writing. This permits the voicing of the book to achieve a remarkable integration page to page, chapter to chapter. Though Murphy is drawing from the whole history of the development of economics, the text is strikingly original. The recommended age is 13 or older, but any adult will learn from and love this book.
The manual follows the student text very closely. For each section within a chapter, the manual may give the historical context, clarify the relationship between what the student is learning from the text compared to a typical college textbook, warn about possible confusions the student may encounter, or give links for further reading for the teacher’s own edification.
In addition, this manual provides thorough answers to the study questions found at the back of each lesson in the student text. It lists optional supplemental materials, such as free online videos, audio lectures, and readings, along with instructions as to their level of difficulty and relevance. The manual also provides sample tests and even suggested activities (ideal for homeschooling parents) to illustrate the concepts in each chapter.
Readers will find Hoppe’s clear and concise explanation of social democracy, where it comes from, and why it fails as an economic system.
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