economics-schools
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Vital addition to all parents' bookshelf of child guidance!
Top Spot on Required Reading List for Parents!
A must for parents of high school paarents.
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Great fun and learning in the Social Sciences
A useful and enjoyable volume of great practical value.
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Discipline with dignity
A "must have" for all novice, and experienced teachers
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One evening of reading exposes the impossibilty of SocialismVon Mises makes several key points:
1)Monetary calculation is an indispensable tool for choosing the optimum among a vast array of production plans.
2)The "intellectual division of labor" (i.e. demand signals) which emerges when individuals (i.e. property owners) are at liberty to exchange goods and services creates subjective value judgements which are then totaled to derive an objective monetary exchange rate. Prices are just the objective reflection of the sum of millions of individual subjective valuations. Such a process does not exist in a socialist economy where the thought process resides the heads of a few bureaucrats.
3)In a static environment, determining value in the absence of market signals would be difficult enough but in a dynamic environment it would be impossible. Social price structure is continually being destroyed and recreated by a competitive appraisement process.
4)True socialist economies can never exist. The former Soviet Union had a quasi-socialist economy. Although its central planners determined most production, they utilized the appraisement process from market economies (United States, Germany, UK, Japan etc.) to help determine capital structure and production priorities. Therefore, the former Soviet Union and other quasi-socialist countries could only eke out an existence by copying technology, production processes and priorities developed in the advanced capitalist economies. Without these signals, the central planners would have no compass to direct them in an ocean of possible economic decisions. This decision-making problem is especially pronounced when it comes higher-order production goods and services such machinery, research and development and implementation of new technologies.
With these very simple points, he devastates the economic foundation of Socialism. That is why in the former Soviet Union, there were many tractors rusting in fields where thousands of tons of grain rotted away. Why? - Because the central planners could not possibly derive the optimum production of tractors, warehouses, fertilizers, distribution networks, fuel and labor without some way of calculating value. For a moment forget about other problems inherent in Socialism (lack of incentives, corruption, abuse of power, bureaucratic inertia etc.) and just focus on the lack of a rational decision-making process. Decisions in a socialist economy would have to be arbitrary.
Just imagine a little thought experiment. You want to build a railroad. First of all, how do you decide if the railroad should be built at all? Secondly, if you want to build it, where should you build it? How many lines should you run? What type of trains? How do you answer these questions without some type of cost-benefit analysis? How do you calculate cost-benefit without market signals that convey supply and demand? Given the multitude of factors involved with such an endeavor - steel and wood to build the rails, fuel to power the trains, the design and quantity of carriages and the variety of employees needed to operate and maintain the system (all of this in a ever changing environment) - how does one make decisions without converting to the common exchange medium of money? In the absence of a market, what objective value does money have?
In summary, with no free market, there is no pricing mechanism and therefore no economic calculation.
It is unfortunate that one evening of reading could expose the underlying structural flaws inherent in Socialism and yet millions decided not to pay attention.
A Critical Insight

Parents and High School Students need this bookBeyond the wonderful, helpful ideas, the child is taught steps to complete his/her own personal notebook organizer (with plans, calendars, personal goals, etc sheets inside). The book also teaches the child to plan his education and develop life goals.
The last part of the book contains forms for the notebook, project and essay checklists, course planning sheets (a child can plan his own course and have evidence of completion of that course), and many other helpful organizers.
THEN there is a CD free with it. It contains all those sheets in PDF form PLUS a scope and sequence and goals for just about any typical high school course you could think of (no environmental science but yes, even calculus).
I can't say enough good things about the book. I wish I had my oldest going through it last year (he's doing that now) and I plan to have my middle son go through it this summer before he starts 9th grade. My biggest problem is organization. The lack of it causes me to waste so much time. With this book, I'm hoping my children (and I) will learn skills so they (and I) will do better.
Better yet, the book enables the child to take charge and make decisions about his/her education. COOL!
Excellent for bilingual students.Dr. Romulo Macias c/o Mercy College Gruduate Program of Education Second Floor. Office of Dr. Palomini and Sr. Sancher Bronx, New York 10462

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Very unique - truly helpful
complete guide to the true north
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The Best Principal
If I nly Knew... Success Strategies for Navigating the Prin

Informative and engrossing
Filling the Gaps
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A must-have, fantastic resource!!
My son liked it!
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A must for MBA students
The bible for executives who want to dialogue with others