Oct 31, 2009
Oct 28, 2009
Oct 27, 2009
"In Bad Money, Phillips describes the consequences of our misguided economic policies, our mounting debt, our collapsing housing market, our threatened oil, and the end of American domination of world markets. America’s current challenges (and failures) run striking parallels to the decline of previous leading world economic powers—especially the Dutch and British. Global overreach, worn-out politics, excessive debt, and exhausted energy regimes are all chilling signals that the United States is crumbling as the world superpower.
“Bad money” refers to a new phenomenon in wayward megafinance—the emergence of a U.S. economy that is globally dependent and dominated by hubris-driven financial services. Also “bad” are the risk miscalculations and strategic abuses of new multitrillion-dollar products such as asset-backed securities and the lure of buccaneering vehicles like hedge funds. Finally, the U.S. dollar has been turned into bad money as it has weakened and become vulnerable to the world’s other currencies. In all these ways, “bad” finance has failed the American people and pointed U.S. capitalism toward a global crisis."
I found the chapters on the peak oil arguments and securitization to be chilling. You will want to share many of his insights with your students. I have my students read Freakonomics for their summer reading because they all read it cover to cover and the discussion generated is electrifying. ( I believe that I will be adding Super Freakonomics as assigned reading.) However, Bad Money could be a fitting addition to any student reading list.
Oct 23, 2009
Oct 20, 2009
Oct 17, 2009
Oct 15, 2009
Just let me know what your favorite read is, and why, and I will post it on the blog.
So let me begin with my selection- "Naked Economics" by Charles Wheelan. What I like most about this book is Wheelan's ability to put economic concepts (mostly macro) and theories into plain English. I routinely assigned this book as summer reading for my AP students and they did not hate it. What better endorsement can you get than that? 17 and 18 year old students did not hate it!
Money quote of the book, ""Economics should not be accessible only to the experts. The ideas are too important and too interesting." Yes and yes to that Mr. Wheelon.
Oct 14, 2009
What are the chances that every single one of your students has eaten Buffalo wings? Pretty good right? Use this to your advantage. Give your students this article and have them pick out all of the economic concepts they can find. I bet they will come up with an extensive list that can be linked directly to the econ standards. SSEF1, SSEF2, SSEF3, SSEMI2, SSEMI3 quickly come to mind.
Oct 13, 2009
Oct 10, 2009
In the last three days I have learned a great deal about podcasting, youtubing, teachertubing, RSS feeding and even a little bit about something called Doodle. In addition, I was given a sneak peak at a really cool online simulation/video game that is built around personal finance. (I will be posting more about this in the coming months)
There are so many amazing technologies out there that are really changing the way teachers teach, and students learn, economics. Wayyyyy back in 1984, when I was a clueless high school senior, I would have never dreamed of having the ability to listen to an interactive teacher lesson on my own time or the ability to contribute to a student built class wiki.
My head is spinning.
Oct 9, 2009
Oct 8, 2009
A Duncan quote on the back of the DOE pamphlet handed out at the conference..."Education is not just an economic issue. It's a moral issue. It's the civil rights issue of our generation. We have an obligation to give every child in America an education that helps him or her succeed in a career and fulfill a role as an active, productive citizen."
My goal this week is to find out more about innovative ways to teach economics to students in grades K-12 so that I can share this information with teachers back in Georgia.
The first gem I have come across is this interesting looking game. What kid wouldn't want to play something called "Budgetball"? What kid wouldn't want to wear oven mitts while trying to throw a ball around?
Oct 7, 2009
So which lot was the fullest? The $40.00 lot of course. This is Atlanta I'm talking about. Only suckers walk nine blocks to do anything in the ATL. (Suckers and yours truly. I would not pay $40.00 to park on the front lawn of the White House if I was going there for dinner)
Once inside the dome I saw another nice little example of huge price discrepencies. The Mrs. and I were sitting in aisle seats in section 133. Price of a ticket in this section...$95.00. Directly across the aisle from me in section 134 were people who paid $250.00 for their seats. More or less the same view, same sound, same easy access to the pretzel stand all for an extra $155.00!
Oh, and the concert? Most incredible stage I have ever seen in my entire life. The rock and roll wasn't bad either.