"Once upon a time in a faraway land..." begins a chapter in the newest book by Larry Seidman, University of Delaware professor of economics. But this book is not a fairy tale for children. Instead, "Economics Parables and Policies," published by M.E. Sharpe, is a book of lighthearted and fanciful econo-tales for adults who might not normally read a book by an economist.
Seidman uses whimsical settings and parables to explain such concepts as saving for retirement, funding social security and the role of the Federal Reserve Bank.
"The basic premise of this book is that learning economics can be fun," It's a book for the night table, not the study desk," he says.
"Written for the intelligent layman, the book has no graphs, diagrams or math. It is for anybody who realizes the importance of the subject of economics, and who wants to read about it in a fun way. That's what I have tried to get across," he adds.
The book begins with Adam and Eve, to teach the reader about the "genesis" of economics: "In the beginning Adam and Eve had no tools," it reads.
Other characters in the book include the Earnest family, the Bully family, an extraterrestrial named XT, and Sen. Myopia, all designed to teach the reader economics in a humorous way.
Seidman said the book grew out of an article he wrote in the late '80s that featured the land of Aroma and its food crisis. The tone of that article became the idea for a book.
Nobel laureate and economist Robert Solow reviewed the book saying, "Prof. Seidman explains simply and clearly, and his parables are fun to read."
A reviewer in "The Swathmorean" wrote, "This is an excellent and easy way to read a book about the economic impact of the decisions of daily life. It rarely oversimplifies and leaves most moral decisions to the reader, using economics to clarify the question."
Seidman, who has been at UD for 16 years, teaches classes in public finance and economic issues and policies. He is currently working on another book, called" Funded Social Security."