How We Live - Economic Wisdom Simplified

This booklet simplifies the often confusing world of economics and describes things in a way that is easy to follow. The main point of the book is that man's material welfare equals his natural resources plus his muscular and mental human energy multiplied by the efficiency of his tools. The booklet demonstrates this point by sharing the history and fundamentals of economics with clarity and objectivity, using both simple concepts and vocabulary. The booklet is divided into one page informative sections with two columns of text each. These sections cover why man works, how man works, what tools are, where tools come from, how corporation tools came into being, how "work" became "employment", what causes unemployment, how power tools increased productivity, what determines the size of business, why patents are issued, why we have trademarks, the payments collected by management, why all tools require payments for their use and replacement, how labor costs control prices, who is the employer, why labor payments get out of balance, what keeps tool payments in balance, the government and the individual, and how the government seems to give without taking. The back of the booklet supplies a list and description of the ten pillars of economic wisdom. Black and white illustrations and charts are provided. ~ Rachel

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Item # 020631
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