What Seinfeld can tell you about managing your money
Everything old is new again, it seems. Although it's been off the air for years now, the much-loved Seinfeld has been rewired to import important money lessons to a new generation of viewers.
Fot instance, the antics of Jerry, George, Elaine, and Kramer faithfully follow the rules of classical economics.
At least that's the contention of the economics professors behind Yadayadayadaecon.com, a site that hopes to be the definitive source of Seinfeldian wisdom, with descriptions of nearly 200 scenes and the economic principles each demonstrates.
You'll learn about dynamic pricing, incentives, cost benefit analysis, game theory and competition. And much,much more!
Consider the episode in which Elaine proposes an idea for a store that sells just muffin tops, only to have her boss open up such a store a few days later. A perfect example of the value of intellectual property rights. Then there's the cost benefit analysis on the merits of illegal cable.
For ease, you can search by episode title or concept. You can also simply click on a tag to find all episodes that portray the same concept.
I think it’s fun to use the series to teach younger people about money. How better to use a a show about nothing.
By Gordon Powers, MSN Money