Stand up comedian, Richard Jeni, discusses the calculus behind immigrants moving to the country. In the calculation of the net present value of migration, movers are expected to weigh the costs and benefits of a move. Jeni points on that we don’t see Americans leaving by boat, but we do see people risking their lives for an improvement in their lives.
The Terminal — Quarters for Carts
In The Terminal, Viktor Navorski (Tom Hanks) is trapped in JFK airport when his visa is no longer valid because his country entered into a civil war. Stranded inside JFK, he has to figure out how to eat and sleep while his political situation is resolved. He quickly realizes that many people aren’t returning the luggage carts even though there is a 25 cent “reward.” He begins collecting carts around the airport in order to buy Burger King meals.
Reservoir Dogs — Why tip?
Mr. Pink (Steve Buscemi) describes why he doesn’t tip waitresses. His associates try to convince him along an equity argument by saying it’s the right thing to do and how they are exploited because their tips are taxed. Mr. Pink argues from an efficiency standpoint that if the waitresses aren’t happy with their pay then they need to relocate. He eventually concedes to tip $1 when he’s reminded that he didn’t pay for his food.
Film: Reservoir Dogs
Aaron Tippin — I Got it Honest
Aaron Tippin sings about the hard working lifestyle of a blue-collar worker who works 8 hours per day. While others may have more money than he does, he did it the way he felt was right by not selling his values.
If you love country music and economics, check out EconGoneCountry.com
ABC 20/20 — A Test on Looks
A 20/20 investigation into how we subtly discriminate based on looks when it comes to donating to charity. About 1/5 people in total donated money, but requesters who were rated as better looking raised more money than the other requesters. Better looking women were able to raise twice as much money as their counterparts.
The Colbert Report — College Credit
Stephen goes through the issues associated with the earning potential of various degrees. This satirical piece points out that college students receive credit for different courses, but they aren’t charged differently for their credit. He then goes through examples of ways colleges could break down credit into three tiers and charge based on potential gains to the students.
The Internship — Trailer
Billy, played by Vince Vaughn, and Nick, played by Owen Wilson, are salesmen whose lost their jobs because of increased computerization. The two don’t want to be left behind so they apply (and are accepted) to an internship at Google even though they are much older than their cohort.
Adam Ruins Everything — Student Loans
Adam Ruins Everything is a half-hour informational comedy were host, Adam Conover, debunks popular myths. Each episode is divided into 3 segments with some common theme. In the Spring of 2018, James Tierney and I sat down to go through all three seasons of Adam Ruins Everything to pick out examples in each episode that could be used in an economics course. If you’re curious about the paper, you can read about it here.
Adam is back to discuss how student loan providers have turned so evil. When traditional institutions didn’t step in to provide loan services to students, the government tried to rectify the situation, but may have made things worse.
Dee-1 — Paying Sallie Mae Back
Dee-1 has a big announcement for his fans, he’s finally paying Sallie Mae (his student loans) back. This is my favorite video to play before we start discussing human capital markets because student loan providers are viewed as evil, but they are filling a role in the market that traditional lenders aren’t willing to service.
Funny or Die — Marry Poppins Quits
A very interesting mix of Mary Poppins and minimum wage policy. Kristen Bell, as Mary Poppins, quits her job because minimum wage isn’t paying enough to help keep her above the poverty wage after taking out taxes. The video discusses how big of an impact a $3 increase could make in her life.