I was looking at some quotes from Paul Newman characters to reflect on his life and work, when I came across these gems from Butch Cassidy and the Sundance Kid, I think I will work them into an Econ class one day.
Butch Cassidy: What happened to the old bank? It was beautiful.
Guard: People kept robbing it.
Butch Cassidy: Small price to pay for beauty.
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Butch Cassidy: If he'd just pay me what he's spending to make me stop robbing him, I'd stop robbing him.
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Butch Cassidy: You know, it could be worse. You get a lot more for your money in Bolivia, I checked on it.
Sundance Kid: What could they have here that you could possibly want to buy?
...Questions to follow.
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4 comments:
1) How would the beauty of a bank be counted in its assets column?
2) What economic problem does Butch fail to acknowledge?
3) How is the argument between Butch and Sundance explained represented in the Quantity Theory of Money?
Beauty, for a bank, can only be counted in the asset column as it correlates to generating business and investment.
Butch does not acknowledge the affects of the free rider system. If he was to be paid to stop robbing the bank others would demand the same treatment or rob the bank themselves. Or would they? I feel like I design an experiment around this..
Money is just a store of value. If there is no value in what you can exchange your money for you might as well use it to wipe your ....
How did I do boss? I want to see your lesson plans. Love the quotes by the way.
1) The beauty of the bank would contribute to its value as property and thus show up as capital.
2) Assymetrical information prevents the banker doesn't know how many other people would rob him if he were not vigilant. Paying robbers would result in moral hazard as more people would attempt to rob the bank in order to be paid off.
3) Quantity Theory: MV=PQ
Butch claims P is small, Sundance claims Q is small.
http://www.boston.com/bostonglobe/ideas/brainiac/2010/03/butch_cassidy_a.html?camp=localsearch:on:twit:ideas
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