Friends — Joey Loses His Insurance

Joey finds out that he hasn’t been working enough lately, so the Screen Actors Guild is canceling his insurance. He’s quick to point out the moral hazard involved in insurance because now he has to be more careful!

Later in the episode, he comes down with a hernia after working out. Since his insurance has lapsed, he doesn’t have enough money to go to the doctor to get it looked out. Luckily, Joey is able to find a part as “dying man” and he ends up getting his health insurance back.

Thanks to Isabel Ruiz for the clip suggestion!

Brooklyn 99 — Healthcare Costs

 

Terry is debating with himself on whether to get a vasectomy after the birth of his two little girls. He goes in for the procedure, but while under anesthesia he confesses to Jake that he is conflicted. Terry doesn’t believe Jake, but Jake has tried to make it a point that he’s Terry’s friend and is looking out for him. Terry asks him to focus on his own body and points out that Jake’s poor diet is the reason why healthcare is so expensive for everyone else. At the end of the episode, Terry gifts Jake a box of carrots, but Jake doesn’t really appreciate it.

The Daily Show — Moral Hazard

 

Moral hazard occurs when a party that is protected from risk behaves differently from the way it would behave if it were fully exposed to the risk. Here, the last line is a perfect example of moral hazard, when Aasif Mandvi says, “Hey man! You can get drunk and have a great time and it doesn’t matter ‘cuz you’ve got health insurance!” Now students can fall off of keg stands and get hurt but that’s ok, they have health insurance now!

Thanks to James Tierney for the clip and the description!

BBC — 200 Countries, 200 years, 4 minutes

What does the world look like (wealth and health) over the past 200 years, but squeezed into 4 minutes. Hans Rosling looks at the change in a income and life expectancy for countries across the world over the past 200 years. What’s nice about this visualization is that it’s color coded to be able to show how different regions changed over time. We can also see how globalization has affected major countries like China, Japan, and India.

The Simpsons — Sirloin-A-Lot Challenge

This clips includes a few different economics concepts rolled in to one. The overarching theme is that of consumer choice where Homer appears to experience diminishing returns while trying to eat a 16 pound steak. He’s competing against a previous eating contest winner, who dies at the end from eating too much steak.

In the middle of the clip, Marge asks Dr. Hibbert if that much steak is healthy and Dr. Hibbert exhibits a bit of the principle-agent problem where his interests now align with eating competitions because he owns a portion of the restaurant. The good doctor tells her not to worry because they have a new heimlich machine, which decreases their need to focus on choking hazards.

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