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Community Economic Literacy is the companion text to American Pie,
the seminar. Our individual fortunes are often connected to the
economic health of the places where we live and the groups to which
we belong. Community Economic Literacy fills a gap in economics
education. Whereas most economics education is based on academic
approaches, this is a text that builds on the individual economic
experience. It starts with a description and explanation of
community and works it way into the processes of building community
wealth. It also contains more than 200 illustrations and graphics
to demonstrate economic principles and historic trends. Instead of
taking an academic approach, the author takes the economic
activities of people's every day lives to explain the concepts. The
text travels briefly through economic evolution tracing the history
of adding value. It starts with a couple paragraphs about the stone
age, moves though the development of agriculture, and passes
through the Industrial Revolution. It then moves to adding value in
the modern era and how that value is maintained in the community by
local trading activities and export. The chapters on jobs and the
retail industry illustrate how different jobs and enterprises have
different impacts on the local economy. Some jobs and some
enterprises leak more money out of the community than they bring
in. Others, even home based enterprises, can contribute
significantly to building community wealth. A chapter is devoted to
wealth. A definition of wealth and its importance are highlighted.
Here the author discusses wealth distribution and redistribution,
the effects of economic stimuli, threats to local wealth, and the
roles of local institutions in ensuring community economic health
and prosperity. The national scene is also explored. This section
includes discussions of national income and wealth sources and a
discussion of how wealth has been built in America. National
economic leakages, import and export, and global markets are
discussed. HIstorical examples are provided. In the AMERICAN PIE
chapter, the theme of the book is presented in great detail.
Examining the national debt and deficit spending leads to comparing
the debt to economic and social trends as well as a presentation on
the federal budget and spending. The size of the pie and the number
and size of the slices are explained. Community Economic Literacy
wraps up by looking at some new economic and social trends with
suggestions on how individuals and businesses can start to make
their own economic impacts at the local level.
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