Helen Palmer (nice_cup_of_tea) wrote,
Helen Palmer
nice_cup_of_tea

Harry Potter Economics!

(Given the HP6 hype this weekend, I found the following article in the guardian and found it rather amusing!!)

Even in Potter's world, you can't just wave a magic wand: Heather Long
Read the full Guardian Article

Harry Potter may seem like he lives in a world where wizards wave a wand and receive instant gratification but that's a view that needs to be demolished by the womping willow.
Scarcity exists in the magic world just as much as in the muggle world. There are a limited number of tickets to the quidditch world cup, magical creatures only shed so many feathers or hairs to go into wands and not everyone has an invisibility cloak.

JK Rowling's fictional world of magic, the latest instalment of which has just hit the bookshops, has its own central government (the Ministry of Magic), owl postal system, jail, hospital, news media, public transport (both train and bus), not to mention Gringotts Bank and a special wizard currency. There are enough institutions to make Adam Smith salivate.

With scarcity and a monetary system, the Harry Potter series should be a case study for any economics course. Here are the top 10 economic principles in Harry Potter:

Read the full Guardian Article
Tags: article, books
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