“For many cycles we have resisted the onslaughts of the Lizard King and his minions. His power is too great for us to defeat him. Yet there is an ancient prophecy, which predicts that one day, three lads will arrive through a shining gateway to the afterlife. They will bear morsels of tasty delight, and one of the lads shall exhibit a mane of bright red. The lads shall visit the Great Eye, where they shall receive gifts of power. And then, the lads will cause the destruction of the Lizard King.”
– The Three Lads and the Lizard King
Irish playwright and author, Oscar Wilde, once opined that “life imitates art far more than art imitates life”. But in today’s selection, the opposite is true, when a popular economist skillfully sneaks an economics lesson into his first foray into children’s storytelling, like a crafty mom sneaks’ zucchini into her children’s cookies. Good books attempt to add a moral to the story by planting seeds for future understanding. And this tale is no exception to that practical rule.
In Robert P. Murphy’s 2013 children’s book, “The Three Lads and the Lizard King”, economist Murphy imparts entry-level economics into three boys' adventure as they set out in search of candy and fun on Halloween night. Woven with subtle economic topics such as money creation and trade, Murphy’s cunning ploy provides food for thought for children ages 8-10 years old. With the spooky backdrop of a dark holiday night, a stolen candy bag would lead the trio to a cemetery where a glowing gravestone would entice the boys into a new world.
A noted fixture on the libertarian circuit, economist and libertarian theorist, Robert P. Murphy’s affiliations include the Mises Institute, the Independent Institute, and the Free Market Institute at Texas Tech University. A podcaster and author, Murphy enlightens his followers about the practical applications of Austrian economics and free thought as guiding principles in society. While there is certainly the prerequisite of good versus evil in Murphy’s tale, Murphy honors the libertarian principle of non-aggression in his surprise twist ending.
With the power to influence thoughts and imparted with super strength from the Great Eye, a mere man accepted his prophecy to become Lizard King in exchange for blanket protection from all harm. And like so many kings before him, his first order of business was to impose his reptilian likeness on the money supply. But like real life, this narcissistic scheme would not end well. But the Lizard King was not the only one to receive gifts of power. The three lads would also have their chance meeting with the Great Eye. John chose first, the gift of strength, while David opted for the gift of healing. It was Michael who, after great thought, selected the gift of making money.
But Michael’s dream gift would have its own consequences when, again, like in real life, that other money printing operation, the Federal Reserve, also produced money magically out of thin air, thus increasing the amount of money in circulation without any increase in production, resulting in the negative effect of higher prices. As such, it led to the devaluing of the currency creating the harmful inflation we see today. For the townspeople, Michael’s gift for creating money out of thin air also resulted in exploding prices they could no longer afford. After understanding their role in the fiasco, the boys vowed to stop producing money, and instead moved on and focused their attention on how to overcome the Lizard King, as the prophecy foretold.
David’s gift of healing came in handy when he realized he could heal the Lizard King's heart by laying his hand on him, leading to the King’s feelings of guilt and remorse. Thus, like all good libertarians, the boys were able to lay down their swords and defeat the Lizard King without force or foul. To make amends for all his evil, the Lizard King would take matters into his own hands, so the boys didn’t have to. A founding principle in libertarianism, the non-aggression principle (NAP) condemns the initiation or threat of aggression against any person or their property, except for reasons of self-defense.
Never too soon to instruct children in the ways of freedom, Murphy’s adventure provides intellectual nourishment for young minds who have yet to meet their greatest threat: their own government.
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