A while back I wrote a post about teaching my children about money by playing monopoly – it turns out that I am not alone in my way of thinking. It turns out that an entire book has been written on this very same idea – I guess great minds do think alike... Lol
"Monopoly became a part of my life the moment my father, Robert Barton--then president of Parker Brothers--acquired the game in 1935. Now, all these years later, Philip Orbanes reveals what we've all sensed since then--the game is replete with solid financial lessons." -- RANDOLPH P. BARTON, former president of Parker Brothers
It’s no surprise to me – of course you have to play the game seriously if you want to learn anything of beneficial use to you.
Please forgive the video interview - it's a bit drab but I agree with the ideas of the author. To learn more about why and how monopoly is a great way to teach financial knowledge to kids continue to read more below the video.
Originally "Monopoly" came from a game called: The Landlord’s Game. It was created By Elizabeth J. Phillips Magie – it was created first for friends and family and then patented in 1903.
Magie designed the game to be a "practical demonstration of the present system of land grabbing with all its usual outcomes and consequences". She based the game on the economic principles of Georgism, a system proposed by Henry George, with the object of demonstrating how rents enrich property owners and impoverish tenants. She knew that some people could find it hard to understand why this happened and what might be done about it, and she thought that if Georgist ideas were put into the concrete form of a game, they might be easier to demonstrate. Magie also hoped that when played by children the game would provoke their natural suspicion of unfairness, and that they might carry this awareness into adulthood.