OTHER CHILDREN’S BOOKS BY JONATHAN NEWMAN

LUDWIG THE BUILDER

This book tells the story of a builder named Ludwig and his experience building a house for a family moving into the neighborhood. This story teaches Austrian business cycle theory, based on the example of the great Austrian economist Ludwig von Mises.

THE BROKEN WINDOW

This book is a rhyming and illustrated retelling of Frédéric Bastiat’s 1850 story about the broken window fallacy. It is a lesson for people of all ages to consider the opportunity costs of destructive events and government policies.

The Mises Institute dedicates this volume to the

US Justice Charitable Foundation Inc.
for its generous support and sponsorship.

THE MISES INSTITUTE is a nonprofit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

Introduction

CHAPTER 1

The Intellectuals
and Socialism*

I

CHAPTER 2

Why the Worst Get on Top*

All power corrupts, absolute power corrupts absolutely.

—Lord Acton