Scrooge McDuck & Money

In this animated short from the Walt Disney Company, Uncle Scrooge discusses the history or money and the importance of money in the overall economy. There are A LOT of great teaching opportunities in this clip and would make a great summary of a money supply lesson or a required video to be watched before the lesson.

Opening to 7:15
History of Money
Huey, Dewie, and Louie visit Scrooge McDuck and request that he help them save the money they had earned. Scrooge goes through the history of money and discusses the role of salt as the original salary that Roman soldiers received. He then goes on to describe money from other societies and why money was important following original barter economies. The characters even discuss the role of money as a medium of exchange!

7:15 to 9:59
Inflation
After learning of the importance of money in the economy, the brothers question why central banks don’t just print more money if everyone wants it. Uncle Scrooge discusses the role of fiat money and why it’s important for the money to be backed by something or someone who can promise to pay the notes that are printed.

10:00 to 13:20
Financial Planning and Taxes
Uncle Scrooge teaches the brothers about the importance of budgeting. People need to make sure that they allocate a portion of their income toward rent, food, and other necessities. He also teaches them about the role of taxes and how important it is for governments to have a budget and make sure that they collect taxes to pay debt.

13:20 to End
Velocity of Money & Investment
The boys are curious why Scrooge keeps so much money in his vault if he tells them that it’s important to put money “to work.” He teaches them that the money in his vault is just his petty cash and then goes on to discuss the importance of money circulating through the economy. The ending portion discusses the role of corporations issuing stocks and shareholders collecting dividends. At the end, he signs the boys up to manage their funds, but charges them a fee. The boys aren’t happy, but he laments that “nothing is ever free.”

2019 0

LetGo — Lawnmower as Money

In this Super Bowl ad, a bar patron tries to pay for a round of drinks with a lawn mower, but this has apparently been an issue before as the bar has a sign that lawn mowers aren’t accepted. This clip is a good, quick introduction to the role of money in an economy and why bartering would be hard to accomplish.

Thanks to Brittany Pifer for the video

2019 0

CNBC — USMCA Overview

CNBC Power Lunch provides an overview of the major differences between NAFTA and the USMCA agreement, particular when it comes to automobiles, access to Canadian dairy markets, and changes in product markets from technological advances.

2018 0

Rick and Morty — Bartering for Bread

The clip shows a good example of the double coincidence of wants and how a barter system is difficult to maintain. The seller of bread needs somebody to take care of his kids and the guy who can take care of his kids wants extra bread. They need what the other has and have what the other wants. The trouble is determining how much work is appropriate to get a loaf of bread and then managing the system to make sure everyone gets paid.

Thanks to Mathew Abraham for the suggestion

2018 0

Boss Baby — Gains from Trade

Tim doesn’t like green beans, but his baby brother sure loves them. Whenever the parents leave the kitchen, the boys realize there’s an opportunity for trade. The Boss Baby knows he needs a favor in exchange for eating his brother’s beans because he isn’t just giving away his services for free.

Thanks to Catherine Madrid for the reference!

2018 0

Milton Friedman — Free Trade and the Steel Industry

Dr. Friedman discusses the benefits of free trade and the inconsistencies of placing tariffs and quotas on the steel industry in order to increase domestic production. He notes (around the 2:00 minute mark) that allowing for free trade would reduce employment in one sector of the economy, but it would increase employment in other sectors.

Thanks to Jacob Clifford for the suggestion!

2018 0

Jimmy Kimmel Live — 2nd Grader Explains Trade Deficits

With the recent stretch of tariffs being imposed on other countries (and other countries on us), Jimmy Kimmel uses some of his showtime to interview 2nd graders about the trade deficits. The basis of the segment comes from Trump’s misguided tweet regarding trade deficits and why a trade war won’t hurt the US:

When you’re already $500 Billion DOWN, you can’t lose!

— Donald J. Trump (@realDonaldTrump) April 4, 2018

Shiloh, our 2nd grader, explains the pros and cons of international trade, including the potential for lost jobs in the US and unsafe working conditions abroad. She also highlights the pros of trade by noting countries are able to buy more things, create jobs in exporting industries, and bring countries together.

Thanks to Abdullah Al-Bahrani for the post!

2018 0

The Easter Bunny is Comin’ To Town — Specialization

The Easter Bunny Is Comin’ to Town (1977) is a classic kids’ claymation film. In this clip, Sunny talks about how trade is necessary for Kidtown!

Thanks to James Tierney for the clip and description!

2018 0

Saturday Night Live — Bartering

When introducing money we usually start with a historical lesson on money. Barter economics is always discussed. Here is a funny news item that talks about a man who tried to barter but got arrested. You can also use it to talk about unit of account because they talk about bail being set at 4 alligators.

Thanks to James Tierney for the clip and description.

2018 0