Wednesday, February 3, 2010

Economics in the Movies

Considering how often A Muppet Christmas Carol is played in my house during the holidays, I don't know how I missed this.  (Start at about 3:20 into the clip and the "lesson" is done by 3:35.)



Andrew H. said...

The mouse is trying to create a shortage and not scarcity. He's got it wrong. The apples are always scarce, both before and after he takes a bite out of one. This is the on-going problem with teaching about scarcity. It's so hard to show because nearly everything is scarce all the time.

Tim Schilling said...

You're right, of course. What he's trying to do is similar to what a cartel would do, or what producers would do to take existing product off the market.

But it opens the door to discussion so the concepts can be clarified.

Nobody every accused the Muppets of being great economists.

Thanks for checking in.