I have to say that I LOVED our class today. Thank you to our overseers of Grant, Caleb, Will, John and Jaston. You were excellent! You channeled the mean boss syndrome. Okay - Will was a bit nicer - he didn't yell and I believe he did feed his group.
Wow! I have a new respect for being the mean boss. Since my afternoon class is so small - I played the boss. Wasn't easy! I got some dagger stares when I took candy for myself.
I'm used to seeing the strikes in groups, but there was a new phenomenon that has never appeared before. I believe it was Grant's group that not only struck - they went looking for a new boss that would "feed" them. I will have to look at Jamestown and see if this happened. The choice to move was interesting to me.
I also heard some students wondering if this is what some government workers are going through when they are working without the incentive of pay. Bravo for that connection.
Economics is about choices - and incentives as well as clear ownership of private property - help direct people and the resources to better productivity. Jamestown, once those things were established turned into a flourishing colony and lessons learned there helped make our country an economic powerhouse.
Other people in the world struggle - and often I have found that lack of clear incentives and private ownership make the difference if an economy thrives or fails. I'd recommend that you look at my previous blog showing the lack of incentives and private property are keeping Cuba from advancing.
Next week, we will be talking about the FIRST economist, Adam Smith, helped establish the rules of the game in capitalism. We will also be learning about opportunity costs and benefits in graphing. Of course, there will be another simulation. In the meantime, think about the role of incentives and private property in your own life.
Assignments are listed - and I would enjoy your comments or questions.
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