Friday, September 2, 2016

Don Boudreaux and Me on entertainment

Don Boudreaux in a post titled:  Thinking At the Margin: It’s Revolutionary writes the following:

…I agree that most people are troubled that the likes of Tom Brady and Jennifer Lawrence earn far higher pay than does any firefighter or school teacher.  But this reality reflects not people’s correct understanding of a failing economy but people’s incorrect understanding of a successful economy.  It reflects also a failure of economists to better teach basic economics to the general public.  So let me ask: would you prefer to live in a world in which the number of people who can skillfully fight fires and teach children is large but the number of people who can skillfully play sports and act is very tiny, or in a world in which the number of people who can skillfully fight fires and teach children is very tiny but the number of people who can skillfully play sports and act is large?
I’m sure that you’d much prefer to live in a world in which skills at fighting fires and teaching children are more abundant than are skills at playing sports and acting.  Precisely because saving lives and teaching children are indeed far more important on the whole than is entertainment, we are extraordinarily fortunate that the numbers of our fellow human beings who possess the skills and willingness to save lives and to teach children are much greater than are the numbers who can skillfully play sports and act.
The lower pay of fire fighters and school teachers simply reflects the happy reality that we’re blessed with a much larger supply of superb first-responders and educators than we are of superb jocks and thespians.  Were it the other way around, then while we’d be better entertained with more top-flight sporting events and movies, all but the richest amongst us would suffer significantly greater risks of being unable to educate our children and of dying in house fires and from other mishaps.

First, I think it is more relevant that people like me, as far as I can asses, spend next to nothing Tom Brady and Jennifer Lawrence get no money from me (maybe some tiny amount I do occasionally watch pro football and see ads but I rarely buy the advertised products). I have spent and am taxed much more for teachers and probably much more for firemen even though we do not need as many as we have now.

Also, It seems to me that we are lucky that beyond some moderate level of ability additional teaching ability does not make much difference.

But I have for a while had theory that people underestimate how important entertainment is to people. It seems to me that entertainment is very important to people. You see falling apart shacks with $60/month satellite or cable TV. Even in a poor country like Honduras it is surprising how much a poor a person will fork out for TV.

My interactions in my youth with heavy drug users led me to believe that they are seeking to escape boredom by using, meaning that they are willing to risk health and life for entertainment.

Also look at those medieval cathedrals with the stained glass and it seems great music for very poor people. A lot was spent and since the bible does not require it I think is more for entertainment than for devotion.

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