Some little girls have recently been caught spitting on capitalism, by giving away lemonade from their sidewalk stand. For free! Where's the respect for suggested retail pricing? Fortunately, financial columnist Terry Savage drove by these children and yelled at them.
Savage was stunned to see these three little girls in an "upscale neighborhood" not learning how to manage their family's wealth at even this early age:
Last week, I was in a car with my brother and his fiancee, driving through their upscale neighborhood on a hot summer day. At the corner, we all noticed three little girls sitting at a homemade lemonade stand. [...]
The three young girls — under the watchful eye of a nanny, sitting on the grass with them — explained that they had regular lemonade, raspberry lemonade, and small chocolate candy bars.
Then my brother asked how much each item cost.
"Oh, no," they replied in unison, "they're all free!"
I sat in the back seat in shock.
Those little monsters! Time to learn them:
I pushed the button to roll down the window and stuck my head out to set them straight.
"You must charge something for the lemonade," I explained. "That's the whole point of a lemonade stand. You figure out your costs — how much the lemonade costs, and the cups — and then you charge a little more than what it costs you, so you can make money. Then you can buy more stuff, and make more lemonade, and sell it and make more money."
Or you give things away to charity, when you're rich.
Or you just don't harass little kids giving lemonade away on the sidewalk, as a rule of thumb.
[Image via Shutterstock.com]