I decided to out on a limb and experiment with a little story about economic scarcity, trade, and cost-benefit analysis. Why not start teaching economics at the age of 3? Why, if more people learned economics at the age of 3, then command economies and Reagonomics would have been seen for the gluttonous disasters they inevitably became. But I'm getting ahead of myself...
Back to the events in the smallest Castle this side of Switzerland.... I read Aesop's fable of the Crow and the Pitcher aloud to all four kids. Then I told the Eldest it that he would be witnessing an experiment- and that he should take note of what he he observed.
Little B., the Gnome, and the Prophet each received a coloring page depicting a crow and a pitcher. We talked about the crow's wisdom in making a cost-benefit analysis of whether or not to look elsewhere for water. Knowing the drought created a scarcity of water everywhere, the crow decided to think creatively and devise his own solution to the water just out of his reach.
All fine and good. The Gnome even repeated the word "scarcity" at one point (I wondered whether the word sounded scary, like "scare city", to her). Now the ladies were ready to start coloring. When they asked for crayons, I distributed the resources in a rather frown-inspiring manner:
Prophet= four blue crayons
Little B.= four green crayons
Gnome= four orange crayons
Fortunately, the Eldest hadn't yet figured out where I was going with the experiment. And he didn't get a chance to think much longer because the whining commenced instantaneously, like a synchronized swimming performance.
"But, I want pink!"
"Me, too! Why does she have all the orange?
"I don't like blue. I have four blues! I need another color!"
Little B. was the first to make an offer to "trade" one color for another. The whining turned into a flurry of trading. Colors changed hands repeatedly, though no one seemed to have a solution for the missing pink crayon problem.
The Eldest got a kick out of the experiment results. He had no problem at all writing a journal entry on the most common human solutions to scarcity, mostly trade and specialization. We tossed around a few examples of economic decision-making, or cost-benefit analysis, including the looming question of whether we should pay for our new water pipes out of pocket or put it on credit.
Then we read an article in Wired magazine about four really clever crows who'd obviously read their Aesop. I don't want to give away the article's conclusion, but it paves a path for a little behavioral economics add-on lesson, should the fancy strike.
Then we argued over solutions to another problem endemic to the Castle, namely, scarcity of space. Should we invest in better tools for organization (i.e. special shelving, closets, etc.) or should we add another room to the house? What kinds of social goods are implicated in the consideration of space? And so on- straight into one of those moments where there is no one in the world with whom I'd rather learn than the zany bunch sharing this scarce space with me.
As for those worksheets we didn't finish, I figured the King might enjoy a little econ-chat with the Eldest. Kings are really good at worksheets.