Guest: Dr Thomas Sowell

Americans are illiterate in economics.

In school we get no economics instruction. We don't get any understanding about how money works or where it goes, what productivity is or how monetary incentives work, nor are we allowed to understand what business is for or how it is not the Enemy of the People.

Even if we did teach economics to our children, it would be bad teaching in the vast majority of the classrooms because the texts would we written by leftists and two-thirds of the teachers would be coming from a leftwing perspective.

Why have you never read Dr. Sowell's book, Basic Economics? Do you like to be economically illiterate too?

Yet this subject is so important. Our brilliant scholar of a President is a fine example. Harvard educated and he thinks that if I lose my job and go on unemployment insurance, that doesn't affect the economy. The dollar paid to me by the government is just as good as the dollar paid me by my employer. He doesn't see a difference.

No doubt he grew up on "The Story of Stuff", as so many of our children are doing now.