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From 'Annie' to the 'Wizard of Oz': Hollywood’s economic lessons

Annie is getting a makeover. The Tony Award-winning musical and 1982 movie will debut in its latest incarnation when it opens nationwide this weekend. Gone is the Great Depression era backdrop from the classic adaptation. Staying though is the rich-versus-poor theme which is good timing considering income inequality is at its highest in decades. Capitalizing on economic trends isn’t new for Hollywood as many movies have featured financial themes throughout the years.

The Wizard of OZ

There's no place like home and no better way to introduce youngsters to the 19th century debate over monetary policy than the Hollywood classic, The Wizard of Oz. Sure their eyes would normally glaze over if you brought up the gold standard, but "The Yellow Brick Road?" Oz - O Z - itself is, of course, the abbreviation for ounce, the standard for measuring gold. The Emerald City is green representing the dollar. The scarecrow is the American Farmer. History and Economics teachers even use the film to help students understand the populist movement and inflation. I could go on and on. Go read up and watch it again.

The Lego Movie

Looking for some anti-capitalist, anti-business fare to even out the commercialism of Christmas? The Lego Movie may have just what you're looking for. For those of you that haven't seen it - I've seen it too many times to count - a simple everyday construction worker races to save the world from the villain named … Lord Business. You get the idea. The irony here is the film served as a two hour commercial for Lego and grossed over $250 million.

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The Lion King

The perfect animated movie to teach your toddler about the Tragedy of the Commons. The Hyenas invade the Pride Lands and become selfishly greedy. They devour and pillage their way through the entire African land. The more they consume, the less there is available for the future. Eventually, almost everything gets used up and a huge depression ensues. It's much easier than digging into Garret Hardin’s whole theory.

It’s a Wonderful Life

Finally, how about a lesson on how banks work from It’s A Wonderful Life, a holiday movie staple? Jimmy Stewart's character, George Bailey teaches us to appreciate what we have, but also gives us a peak at real run on a bank before the days of "too big too fail."

 

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