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.
Ludwig realizes that he doesn't have the materials he needs to finish the house, and so he must alter his plans if he wants to get the job done. This story highlights the fundamental economic principles of scarcity, entrepreneurship, and the problems with government intervention in the economy.
- Colorful illustrations
- Encourages critical thinking
- Includes an explanation at the end
- Great for kids and adults
Reviews:
"Austrian business cycle theory is one of the most important practical and impactful contributions of Austrian economics. In this excellent children's book, Professor Newman has achieved the remarkable feat of simplifying the essence of this theory in a manner easy for children to digest, giving them a great introduction to the economic way of thinking and the pitfalls of monetary central planning."
- Saifedean Ammous - economist and author of The Bitcoin Standard, The Fiat Standard, and Principles of Economics
"Featuring engaging story telling by Jonathan Newman and inviting illustrations by Adam Riong, Ludwig the Builder is an attractive way to introduce children to some implications of scarcity and how mismatches between entrepreneurial plans and available resources lead to economic disaster. In his nice epilogue, of sorts, Newman expertly provides for parents and teachers additional context, relating his story to Austrian Business Cycle Theory."
- Shawn Ritenour, Professor of Economics at Grove City College and author of Foundations of Economics: A Christian View