Explaining Monetary Economics by Baby Sitting.

Would be difficult to do.

But here we have Paul Krugman explaining how a simple co-op of babysitting through the use of coupons as medium of exchange (where seasonal changes are the variable factor affecting the demand and supply of coupons), could end up in a disaster if there were no 3rd party element in the system to regulate and manage the supply of the coupons (a.k.a Central Banks).

I found Krugman's simplistic approach in explaining Monetary Economics to be very enlightening, and further showcases the importance of financial regulation by Central Banks in any country in order to ensure the stability of its economy as well as manage its currency fluctuations. In terms of governmental intervention in financial regulations, I believe he is a much more competent person as opposed to Alan Greenspan. 

The article written by Krugman also implicates citizens to keep calm during recession times, and hold in the belief that the good times will return, once the Baby-sitting coupons are regulated in an orderly manner.