Brooklyn 99 — The Assistant

 

Captain Holt, the dry, stoic, strictly professional captain of the Brooklyn 99 precinct, is searching for a new assistant. He is exhausted by the search process and finds all applicants unsuitable for reasons such as using improper grammar in an interview, and including Microsoft Word use in the “special skills” section of a resume. Exhausted by the search, he gives up and is willing to forgo an assistant just to not have to deal with the search process. His subordinate, Detective Jake Peralta, persuades Captain Holt that Peralta can find an assistant for him, and Captain Holt agrees on the terms that he can fire whomever Peralta hires.

This episode is an example of employer frictions resulting from search costs. Both Holt and Peralta have to devote man-hours to the search, and for the particularly selective Captain Holt, the search costs are high enough that Holt is willing to do the work of an assistant himself without extra pay. The opportunity cost of Peralta searching for assistant is less than the opportunity cost of Holt searching, likely both because Holt faces high psychic costs of the search and because, as a detective, Peralta’s time is worth less to the precinct than the captain’s time. Holt’s decision to allow Peralta to search for an assistant suggests that the opportunity cost of Peralta’s lost man-hours do not outweigh the expected gain of Holt having an administrative assistant, which would allow Holt to be more productive in his position in the future and results in a net gain for the overall productivity of the precinct.

Submission and description submitted by Melissa Paton

Young Sheldon — Organizing a Family Union

 

Sheldon isn’t happy with the bread for his sandwich and drags his friend, Tam, along to the grocery store to investigate. While there, Tam learns that the super market is just as convenient as his family’s convenience store and is no longer surprised that his family is losing business to the grocery store.

What Tam is surprised to learn is that the local employees earn $3.35 per hour, while Tam is paid $5 for the entire week. Realizing his dad is probably violating child labor laws, he wonders if he is able to form a union with his sisters and take his dad to court.

Young Sheldon — Communism & Bread

 

Sheldon finds that his sandwich tastes a bit different than normal. After a quick trip to the grocery store, he realizes that his local bread company has been bought out by a larger corporation that is looking to make break quickly and cheaply. He doesn’t like this switch and petitions super market customers about getting the local bread company to listen to their customers.

Without realizing it, Sheldon suggests that communism may be a better system because then one central authority can decide the recipe for bread. He assumes bread lines in Russia are a result of great tasting bread, and not the country’s inability to allocate resources. The show is set in the 1980s, which is the midst of a Cold War. Sheldon’s dad gets a spot on the news and Sheldon almost shares how the social security system is similar, but his dad doesn’t give him the chance.

Catastrophe — Working to pay for child care

 

A husband and wife comically discuss their plans for preventing another child, whether to use an IUD or have a vasectomy. The conversation then leads into whether it’s time to go back to work after maternity leave. While she loves her children, she wants to be away from them a bit, but they can’t decide on the best option. One option is to hire a “child minder,” but that would cost nearly the same as her teaching salary, but Sharon is in favor of the option. She’s willing to work full time to pay for someone to watch her children, essentially have zero effective income. Why would she be willing to do something like this? She would derive utility from spending time away from her own children.

Thanks to Sheena Murray for the clip suggestion! If you have a great clip that you’d like to add to the site, just reach out to me!

Disjointed — The Role of the Federal Reserve (Conspiracy)

 

In a “puff and paint” party, some patrons of a local dispensary have gone a bit too far in the describing the role of the Federal Reserve. While the stated goals of the Fed are price stability and full employment, this hallucination has the Fed at the center of a universe-wide conspiracy. Bloomberg has a podcast that looks at why so many conspiracy theories seem to form around the Federal Reserve.

My former student, Luke, sent me this clip. You should follow him on Twitter!

The Good Place — Externalities & Unintended Consequences

 

Things seem off in The Good Place, but it turns out that the as the world becomes more complicated, seemingly identical actions (like giving flowers) can have unintended consequences that most people don’t realize. Our private actions can have social costs that we’re unaware of and would probably try to avoid if we were fully informed of their costs.

Thanks to Kalina Staub (Twitter) for the clip!

Curb Your Enthusiasm — Unwritten Rules

Larry David teaches Christian Slater the social etiquette surrounding overconsumption of  hors d’oeuvres a party. To start, Slater’s over consumption represents the individual incentives surrounding common resources. Ostrom’s Noble Prize in Economics explored the way social conventions, which David explains, can solve overconsumption issues even when laws aren’t in place.

Thanks to Greg Caskey for recommending it to the #TeachEcon stream on Twitter.

Curb Your Enthusiasm — Strangers Have a Bad Reputation

Jason and Jerry make a surprise appearance on Curb Your Enthusiasm to reprise their roles of George and Jerry to discuss the struggles of meeting strangers. There are people all around us that we’ll never meet, partly because they don’t want to meet us. They assume we’re bad people even though we know we may not be.

Thanks to Daniel Stone for the clip!

The Simpsons — 3 Kids & No Money

Homer laments of his problem of having no money and three children, but would instead prefer no kids and “3 money.” Kids, thankfully, cannot be used as money, but do represent a tradeoff in that parents could spend their money on other items instead.

Thanks to Nick Covington for the clip!

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