On our way to school each morning, Milo and I regularly listen to the news. For the past several months, the lead story has often been about various problems with the economy. We don't usually talk about these news stories, but after one of them this morning, Milo said,
"Dad, I have an idea. I have a good idea about how to help with all of the money problems."
"Really? Let me hear it."
"We should take all of the pretend money for games and playing and let people use that as real money."
What followed was my convoluted attempt to explain inflation, largely in terms of Luke Skywalker action figures. In any event, it is nice to know my son is paying attention to the news, and actually gets some of it. Should I be impressed that his inflationary policies match up with the recommendations of a renowned Harvard economist?
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