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The Magic Coin is a children’s book version of Murray Rothbard’s
What Has Government Done to Our Money? In Rothbard’s book, we learn that money and banking originated on the market, but were co-opted and monopolized by the government for its own purposes. The government realized that it could expand in size and scope with the power to print money.
In this story, a girl named Lily goes on an adventure with a magical coin named Newton (Murray Rothbard’s middle name) through the history of money. She learns what money is, how it came about, and how the government took control of it. By the end of her adventure, she learns that sound money is based on honesty—all of the steps that the banking system and the government took to take control were based on trickery.
This is a great book to teach basic economic principles to young readers (9+ years old, but with colorful illustrations and a guide for parents and teachers provided at the end, all ages can enjoy it and learn from it).
“With his new book The Magic Coin, Mises Institute Research Fellow Jonathan Newman takes up the most important task of all: teaching children about money and how the government tries to destroy its value. I encourage all parents to pick up a copy of The Magic Coin and read it to their children. They’ll thank you later!”
—Dr. Ron Paul
Former Texas Congressman and chairman of the
Ron Paul Institute for Peace and Prosperity
“This slim book engagingly written in plain language is a magnificent achievement. Dr. Jonathan Newman encapsulates the basic lessons
of money and of how it is deformed by government and central banking in a magical story that will charm and enlighten young readers.”
—Joseph T. Salerno
Academic Vice President
Mises Institute