This track by The Smiths offers a rich backdrop for exploring the opportunity costs associated with how people allocate their labor. The lyrics reflect the emotional cost of employment: the narrator moves from idleness to employment, only to express regret and dissatisfaction:
I was looking for a job and then I found a job
And heaven knows I’m miserable now
The chorus questions why he spends his valuable time (a scarce resource) on work that feels meaningless and unappreciated:
In my life, oh, why do I give valuable time
To people who don’t care
If I live or I die?
This song is a great opening to discuss opportunity cost in labor decisions: just because someone can allocate their time to paid work doesn’t mean it’s their most valued use of time. It’s important to remember that most labor models don’t focus on maximizing income, but rather utility. There is a tradeoff between the income we earn from paid labor and the loss of leisure time. The cost of that tradeoff is much higher when the work we do isn’t satisfying.
Thanks to Allison Murphy from Oregon State for the clip submission and topic recommendation
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