After writing my post on the deadweight loss of Christmas, I checked the front page of the Undercover Economist blog and found another fun one. I figure since I'm writing posts sucking the fun out of things that should make us happy, why not go after board games, too?
Hartford has written a (semi) tongue-in-cheek piece about how Monopoly might have fostered the values that led to today's financial crisis for the Washington Post.
An excerpt from the Post's article, Econopoly:The game is one big property boom, funded by an overly generous central banker – a diagnosis many economists would also apply to the sub-prime crisis. Alan Greenspan, the Fed chairman who presided over the boom, was nine when Monopoly was widely published. It is not known whether he played the game as a child, but he seems to have taken inspiration from it somehow.
Read the rest.
Thursday, November 13, 2008
Economics vs. Monopoly
Another blog post from over at The Shotgun: