PBS Newshour investigates the economics around the first Thanksgiving, including the differences between Europe’s cash economy and the indigenous barter system as well as common resources and property rights.
In the middle of being chased by walkers, Rick and the group decide to break into a home because they believe it to be uninhabited. To their surprise, a man is living in the home and because threatening to shoot them, which would attract more zombies to the area. The group is faced with a decision of whether to kill the man to save their own lives or leave his property and face eminent death.
Thanks to Brian Hollar for the clip suggestion!
A group of enlightened drivers ponder the ownership of a beach. Beaches are typically public property, but in some areas they may be private land. One of the issues of beach ownership is determining who’s liable for an injury. A lack of clear property rights makes it an interesting argument for public/private ownership of areas.
In this Stossel in the Classroom segment, Stossel analyzes the issues around common resources and public goods. In the opening interview, many people believe public versions of items are better and often cite the lack of a price as the main reason for selecting that over a private item. The same people are quick to point out that a public toilet doesn’t have the same connotation because people overuse it and don’t take care of the resources because no one owns it.
This clips is beneficial to talk about how tragedy of the commons can be overcome by assigning property rights to a business and turning it into a private good.
Some markets fail because of the lack of property rights, but trophy hunting could actually be used to alleviate some of those issues by assigning property rights to game wardens and then selling licenses for the right to hunt the animals. The funding from the licenses could then be used to help maintain the population. We don’t think Adam ruined anything here.
Big thanks to Kalina Staub for sharing this one with us!
While pretty controversial, this CNN clip does a great job of introducing the idea of property rights for endangered species.
This is a little NSFW and has some mild language, but it illustrates tradeoffs really well. This is the End is a movie about actors playing fictionalized versions of themselves in an apocalypse. In this season, the actors are trying to decide how to divide their stockpile.