The Picard ManeuverThat's a very good question!
sugar_in_your_teaIdk, I’ve lectured my kids on monetary and economic policy enough that they know better than to ask that question.
The oldest is 10, but he just had to know why I dislike Trump, and you can’t really get into why tariffs are bad without first explaining the fundamentals of supply and demand, as well as central banks managing monetary policy. They might not even be that far off if you ask them when the last fed rate hike was.
I wish I was joking, but I’m already in too deep with my conviction that I’ll answer any question they have.
mercyou can’t really get into why tariffs are bad without first explaining the fundamentals of supply and demand
Tariffs mean the government charges you extra when you buy something from another country. Do you like paying more for things?
Sure, like everything else, you can make it more and more complicated, but the fundamentals are pretty simple and don’t require an understanding of supply and demand.
Why don’t we just buy it from another country? Or just make it ourselves?
It turns out some countries produce a lot and other countries don’t produce as much, so you can’t just switch production to somewhere else overnight. That’s where supply and demand comes in.
But yeah, I’m exaggerating a bit, and I definitely initially explain things according to their age level. Obviously 5yo doesn’t need a full lecture on economics, but the 10yo can grasp a bit more.
Right, like I said, you can make it more and more complicated, depending if the kid wants more detail. I just don’t think tariffs are any more complicated than any other subject. Everything gets complicated as you dig into it more and more.
Agreed. It’s icebergs all the way down.