Monday, February 10, 2020

Economics in the Goonies


Movies often include underlying themes and messages. Many may be related to economics and economic theories. The Goonies, released in 1985, tells the story of 2 brothers about to move from the town they grew up in. It is explained that their neighborhood was bought by investors planning on building a golf course. They cannot afford to move within the town so the movie begins on their last day in town. The main character’s friends come over and they discover a treasure map and go on an adventure to find a pirate’s treasure. There are many indirect economic factors in this movie.

  1. Supply and Demand
A very common thing in demand is money and opportunities to make money. A common economic concern has to do with employment and access to money. The beginning conflict is that the family cannot afford to stay. There is an antagonist family also looking for the treasure for different reasons. Much demand for an already seemingly scare prize, but in this case the supply was highly scarce as it is one collection of treasure lost for many decades. Many people have tried to find it, but none have succeeded. 

  2. Opprotunity Cost
The reason they go on this adventure, besides the possibility of gaining a fortune, is to spend their last day doing something amazing together. They realize it was this, or sitting in the house all day sulking. They chose to spend one last adventure together.

3. Externalities
As they go on this underground trip, other characters are impacted such as bystanders, restaurant owners, and fellow students. There are some cases during the trip when the bad guys kill people they come into contact with as means for covering their tracks or to gain insight.

Image result for the goonies

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