Teaching Economics with Media
Nick, Kurt, and Dale head to Rex Hansen’s house with a plan to kidnap him and hold him for ransom to pay for a past business deal gone awry. When they get to the door, Kurt and Dale try to open it, but are surprised to find it locked because they believed the probability of it being locked was only 50/50. While there are only two possible outcomes, it doesn’t mean the probability of each outcome is the same.
This concept has been mistaken in other shows like Corner Gas and Young Sheldon.
Nick, Kurt, and Dale finish production on their new product, the Shower Buddy. After being asked to produce 100,000 units to be sold to Bert Hanson and his son Rex. The three take our a half million dollar loan and start production, but since they have never done this before, they don’t have the Hansons commit to paying for a portion of their order. Hanson cancels his order with a week before the loan is due in an attempt to buy their company in foreclosure. One line is especially poignant as Hanson notes that hard work doesn’t create wealth, wealth creates wealth. One of the issues with wealth inequality is that it’s not a reward for hard work, but rather a reward for previous work. Vox covered the difference between wealth and income inequality in a nicely illustrated video.
Nick, Kurt, and Dale start up production on their new product, the Shower Buddy. After hiring some workers, they decide to hold a day where employees can bring their kids to work. It turns out that the kids actually started working on the factory floor and are enjoying it. At first blush, it seems like this shouldn’t be happening, but when Nick finds out how productive they have been, he walks away to change the sign instead.