Gresham's law and having your child make his bed.

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Gresham's law and having your child make his bed.

Postby henrysmedford » Sun Jul 24, 2011 11:12 am

Theodore, my ten year old, has a great challenge in completing his daily morning tasks in a timely manner.
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His bed is made in haste. So, I was reading to my boys about Gresham's law (see--http://en.wikipedia.org/wiki/Gresham's_law
Consider a customer purchasing an item which costs five pence, who possesses several silver sixpence coins. Some of these coins are more debased, while others are less so—but legally, they are all mandated to be of equal value. The customer would prefer to retain the better coins, and so offers the shopkeeper the most debased one. In turn, the shopkeeper must give one penny in change, and has every reason to give the most debased penny. Thus, the coins that circulate in the transaction will tend to be of the most debased sort available to the parties.


So then a light came on in my head and I told his mom that a sloppily-made bed begets "cold" hot chocolate and COLD oatmeal—a fair trade for debased chores.

So, after the "cold" breakfast discussion, here's the bed now!
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Re: Gresham's law and having your child make his bed.

Postby Kurr » Sun Jul 24, 2011 11:38 am

:D :lol: :lol: :D
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Re: Gresham's law and having your child make his bed.

Postby Thogey » Sun Jul 24, 2011 11:46 am

Theodore must KNOW you will pull the trigger on a debased breakfast if need be.
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Re: Gresham's law and having your child make his bed.

Postby 68Camaro » Sun Jul 24, 2011 1:09 pm

No BULLY! ? :)
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Re: Gresham's law and having your child make his bed.

Postby Thogey » Sun Jul 24, 2011 1:36 pm

I'm considering something like this with my kid.

I'm tired of barking at him. But he's nine and I'm trying to be patient. I haven't smacked his butt since he was 5 or 6 and hoping I never have to again. I hate doing it, but there is a line and he knows where it is (disrespect, lying with impunity etc.)

I think he still remembers it because he is very compliant, but not self-motivated. Why? Because he's nine and I'm a lousy example (my workshop is an unorganized mess!).

I hope you don't have to feed him cold gruel. But the fact that he believes you will ,shows you are a consistent father and do what you say you will. This is a very important part of training a kid.
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Re: Gresham's law and having your child make his bed.

Postby henrysmedford » Sun Jul 24, 2011 2:02 pm

We were having fun about what debased food you get for a poor job done on jobs. Mostly in jest!

We eat== Poor work they eat==

Filet mignon = Round steak

Toast = Burnt toast

Hot Coffee = Cold coffee

Hot leftovers = warm leftovers

And the list can go on and on. Also I told my boys in the real world a person who does a good job makes more. This why they now have control of there fate, When is a job done, is a sloppy bed a made bed my son thought so. After he got cold oatmeal that we said was warm he got the point. :D
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Re: Gresham's law and having your child make his bed.

Postby Thogey » Sun Jul 24, 2011 2:10 pm

Gothca,

So you used the cold cereal not as a threat or a punishment, but as an example of what half-ass effort results are.

So if you not going to make the effort to do your job than maybe someone else who depends on you may nor make the effort to do theirs.
If I have the gift of prophesy, and know all mysteries and all knowledge, and if I have all faith, so as to move mountains but do not have love I am nothing. And if I give all my possessions to feed the poor, and if I surrender my body to be burned but do not have love it profits me nothing.
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Re: Gresham's law and having your child make his bed.

Postby henrysmedford » Sun Jul 24, 2011 4:19 pm

Thogey wrote:Gothca,

So you used the cold cereal not as a threat or a punishment, but as an example of what half-ass effort results are.

So if you not going to make the effort to do your job than maybe someone else who depends on you may nor make the effort to do theirs.


That is it. I think a child might think a task is done to there standard on a so by giving them back something at a lower standard they feel they got shorted and see how you feel shorted. Also have you seen how debased ice cream is a 1/2 gallon is now 1.5 quarts.
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Re: Gresham's law and having your child make his bed.

Postby Mossy » Sun Jul 24, 2011 6:01 pm

Hmmm...

"Unmade bed" equals "unmade oatmeal", right? If he doesn't want to complete his job, why should Mom?
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Re: Gresham's law and having your child make his bed.

Postby Oakair » Mon Jul 25, 2011 10:53 pm

henrysmedford wrote:We were having fun about what debased food you get for a poor job done on jobs. Mostly in jest!

We eat== Poor work they eat==

Filet mignon = Round steak

Toast = Burnt toast

Hot Coffee = Cold coffee

Hot leftovers = warm leftovers

And the list can go on and on. Also I told my boys in the real world a person who does a good job makes more. This why they now have control of there fate, When is a job done, is a sloppy bed a made bed my son thought so. After he got cold oatmeal that we said was warm he got the point. :D


:D My favorite!!
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Re: Gresham's law and having your child make his bed.

Postby AGCoinHunter » Tue Jul 26, 2011 8:39 am

Brilliant. I will have to remember that when mine get a little older.

My wife is really good at making burnt cold food... :)
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Re: Gresham's law and having your child make his bed.

Postby Hawkeye » Sat Oct 29, 2011 1:13 pm

That is absolutely brilliant. I'm an economics teacher and will be using this in my class when time comes to take about Gresham and his law.
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Re: Gresham's law and having your child make his bed.

Postby henrysmedford » Sat Oct 29, 2011 6:42 pm

Hawkeye wrote:That is absolutely brilliant. I'm an economics teacher and will be using this in my class when time comes to take about Gresham and his law.

I had posted this also in the past but it fit with this--
Theodore, my non-sorting 11 year old son, plays his violin at my work on Saturdays for tips. An elderly man tipped Theodore just one dollar. (Usually he gets five dollars, so this was a major disappointment.) After the man left, I explained to Theodore that when the man was his age, a dollar was a day's work. About an hour later, Theodore hands me the dollar and says that he wants to trade it for today's dollars. He said, "About 50 to 75 dollars should do the trick!" :mrgreen:
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Re: Gresham's law and having your child make his bed.

Postby tn-dave » Sat Oct 29, 2011 11:44 pm

AGCoinHunter wrote:My wife is really good at making burnt cold food... :)


:lol: I'm married to a beautiful blonde who is good at a lot of things but cooking sure isn't one of them
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Re: Gresham's law and having your child make his bed.

Postby DirtyFingers » Tue Dec 27, 2011 9:34 pm

Good job Joe, but after going through 4 sons from start to finish, what worked before the testosterone starts flowing doesn't always work afterwards. At least until they get a taste of the world on their own. I understand what you're doing though...plant the seed.

Always have a Plan B and the patience of a saint. ;)
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Re: Gresham's law and having your child make his bed.

Postby Rosco » Wed Dec 28, 2011 12:47 am

The early twenty's were hard on both my Wife and Me, but we are all Friends now :mrgreen:
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