Chris Rock discusses his recent divorces and encourages couples in love to make sure they hold tight to one another. He does warn that if you’re thinking about leaving then you should probably leave immediately, perhaps after the show. A lot of people stay in relationships they don’t like being in because they’ve been together for so long, but that’s just irrational!
Chris Rock — High School Orientation
Chris Rock describes taking his daughter to her high school orientation and hearing the vice principle talk about how students can be anything that they want to be. While optimistic, Rock points out that it’s more appropriate to tell them that they can be whatever they’re good at as long as someone is hiring. It turns out Chris Rock and stand up comedy has a lot of insights on economics.
Thanks to Kim Holder and ECONShots for clip idea!
Saturday Night Live — Chris Rock on Minimum Wage
Chris Rock explains on Weekend Update how a minimum wage (a price floor) is above equilibrium wage. Firms may want to pay lower wages, but an effective price floor is one that is set above the equilibrium such that firms aren’t able to pay the lower wages. Thanks to Jodie Beggs for finding the Jeopardy reference that led me to finding this video.
Chris Rock: Bullet Control
Guns and bullets are complement goods. This clip from Chris Rock’s HBO comedy special talks about how making the price of bullets $5000 would limit the amount of shootings. This is essentially talking about how when the price of a product increases, the demand for complement goods related to that product decreases. By having the price of a bullet cost $5000, Chris is basically saying that the government should put a price floor on bullets. This will result in less people being able to afford bullets and possible a black market for bullets. All of which are addressed in this clip. This clip has been edited for class use.
H/T to James Tierney