Many have seen Jimmy McMillan as a meme, but so few have gotten to see him in the NYC debates. McMillan argues that rent in New York City is too high and should be regulated by the government. This is a good clip to use before a discussion on price ceilings and the normative argument of prices being ‘too high’.
What if it does so, in order to make a profit, by producing things you think are of poor quality. When is profit seeking good? Does Apple prey on us by creating the iPads we love? Or is Lisa on to something here, suggesting that we should not buy things from publishers that don’t contribute to “culture”? This clip should provoke some good discussion, and is ideal for an economics class.
Thanks to F. Bailey Norwood.