76-03-B2
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Bread Machine and Janeway
TranscriptWhen it comes to basic economics, personal and general, there are two slim volumes out that may tell you more than a shelf full of college texts. I'll be right back. Not quite two years ago, I first read "The Incredible Bread Machine." It made a lot of sense. It gets right down to the basics of our economic system but instead of being a dry recitation of theory, it's a bright witty fast-paced account, written by a group of young people, some of them previously radical in their politics, who set out to find out for themselves just what our private enterprise system is all about. Working under the auspices of the World Research Institute in San Diego, California, they produced a small book that has become a bestseller many times over. Now it's been made into a popular motion picture and a television special, too. The Incredible Bread Machine is as good a primer on economics for young people as I've ever seen. But it's also a great refresher course for anyone in business or in public life. Read it and you'll appreciate anew the genius of our system. In fact, I wish every elected official in America would read it, we just might get better government if they did. More recently, I've been reading another slender volume, a new one that's also packed with useful basic information. This one would be excellent reading for any young man or woman about to go out to tackle the world on their own. It's called "Musings On Money" and is by that seasoned observer of the political and economic scenes, Eliot Janeway. Musings On Money has aphorisms, axioms, and anecdotes. It is good humored and provides plenty of food for thought about work, pleasure, money and the state of the world. Here are some samples: Janeway says, "Like it or not, believe it or not, money is the root of all success," and "Your feelings about money reflect your feelings about yourself." "Learning to think objectively about money is the key to making yourself free." Here's one worth thinking about, quote, "The choice of a lifestyle in any part of the country is only as free as the ability to finance it. Finding the money to enjoy a lifestyle, whether in a big city or the great outdoors, is a critical part of that lifestyle." unquote. Janeway advocates middle-income earners forcing themselves to save he says, "First you need a savings fund of at least six months after tax income to protect yourself against emergencies. On top of that, you need to put enough money together for investment or speculation. Building a reserve of ten thousand dollars is a good beginning." Unquote. Now that may sound impossible to anyone who has trouble staying ahead of inflation, but Janeway makes a good point when he says you can begin on a small scale by withholding some money from your paycheck and putting it away before you pay the bills. It's all a matter of getting in the habit. Musings On Money has advice on charitable contributions, insurance, buying bargains, owning land, and a good deal more. Much of what Eliot Janeway writes might come under the heading of good old-fashioned horse-sense. Some may seem completely new. In either case, it's good reading. This is Ronald Reagan. Thanks for listening. |
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