Does being fashionable really need to
be so expensive and bothersome? According to Thorstein Veblen,
an economist who wrote The
Theory of the Leisure Class over a century ago, the answer is
yes. Veblen argues that the main point of being fashionable is
to gain status by appearing rich and powerful. This activity
asks students to bring in photos of fashionable items and discuss
whether these items exhibit conspicuous consumption.
can be misleading.
With this series of 12 puzzles, you can
help your students become more discriminating consumers of economic statistics.
Economics of the Wizard of Oz
teachers sometimes have students read or view The Wizard of Oz
while discussing the Populist Movement. Economics teachers
might want to use the story to reinforce these concepts:
- An increase in the money supply
can result in inflation.
- Inflation results in gainers and
- Borrowers often benefit from
inflation, while lenders often lose.
- The government can control the
money supply and, to some extent, the inflation rate.
© Lori Alden, 2005.
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