Your Teacher Said What?!: Defending Our Kids from the Liberal Assault on Capitalism

Written by Blake Kernen and Joe Kernen

Narrated by Kevin Foley

Every morning on CNBC's Squawk Box, Joe Kernen asks challenging questions. And at home he does the same with his young daughter, Blake. What are you learning in school? What TV shows do you like? What message did you get from that movie?

When Blake was nine, her answers told Joe that she had already absorbed a distorted view of economics-from her school, pop culture (even animated movies!), and just about everywhere else. She was learning that capitalism is unavoidably immoral, that business people can't be trusted, especially if they run big companies like BP or Wal-Mart, that trade is bad because it hurts American workers, and that no matter how bad things get, the government will always bail us out.

Joe admits that he shouldn't have been surprised in an era when Washington casually takes over car companies and spends a trillion dollars "stimulating" the economy. But he was outraged and determined to do something about it. If he couldn't fix our education system or Hollywood, at least he could teach Blake how capitalism really works, and why it's worth defending.

He started by asking her to write down phrases she didn't understand ("What's physical stimulus?"). That led to discussions of some tricky ideas, like credit and the time value of money. In theory a dollar today is always worth more than a dollar next year-but not to someone whose purchases are always paid for by someone else.

Joe and Blake talked about the pluses (small) and minuses (huge) of unions-including the unionized teachers who disparage the free enterprise system that pays their salaries. They investigated the complicated process by which even the simplest manufactured items get made, without anyone directing from above. They puzzled out the truth about so-called fair trade: Rather than help poor farmers, it helps keep farmers pooor. They learned the differences between Europe and America, and why free health care isn't really free.

And they discovered what nine-year-olds have in common with grown-up progressives: Both love to regulate private behavior and think that anything bad-like smoking or eating too much fast food-should be prohibited by law.

Ultimately, Joe convinced Blake that capitalism isn't about greed; it's about freedom. As she writes in one of her sections: "When I have to go to the store to buy a net for my aquarium (I have puffer fish) I can find a lot of nets, but no one told the store which ones to put on the shelf, and no one told the companies that make the nets how many to make, and no one told the companies that deliver the nets when to bring them. Or rather, everyone told them. Millions of ordinary people deciding what to buy and sell are smarter than even the hundred smartest people in the world."

• Language: English
• Publisher: Tantor Media, Inc
• Release date: Jun 22, 2011
• ISBN: 9781452673455

Reviews for Your Teacher Said What?!

[jntjesussaves · Rating: 5 out of 5 stars]

Writing: 4.5; Theme: 4.5; Content: 5.0; Language: 5.0; Overall: 4.5; Great common sense approach to the world of economics. Mr. Kernen shares free market capitalist ideas with the help of his, at the time, ten year old daughter. Highly recommend. ***May 31, 2018***

[ladyjai_1 · Rating: 5 out of 5 stars]

As a parent with a child in the public school system, I found this a book a wonderful read. I've pretty much got a handle on the topics here but Joe Kernen breaks it down in a very easy to understand manner for any level. Blake's questions and ideas are very thought provoking and it really does show you just how a child's brain works. As adults, we are trapped within our own mind and seldom think on a lower level. We take for granted our knowledge and sometimes expect our children to understand without question. This book really does open your eyes as to how the school system is teaching our children. If you are unfamiliar with the topics, this book explains it on a level anyone can understand. If you are familiar with the topics, it is a great recap of them. The book is not condescending, nor is it "just another text book". Joe makes it real by throwing in his own conversations with his daughter. Parents can certainly empathize when reading. I highly recommend this read to anyone who is sending their children to school--pre-k to college, it matters not. These questions will eventually come up sometime in your conversations with your children. It's better to be prepared with the proper answers, not something you just guess at. Education is the key to success. It's never too late to learn. Arm yourself with knowledge and make the world a better place.