Comments on: The Economics of a POW Camp http://www.getrichslowly.org/blog/2008/07/22/the-economics-of-a-pow-camp/ personal finance that makes cents Sun, 05 Jul 2009 04:46:05 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: TripleE http://www.getrichslowly.org/blog/2008/07/22/the-economics-of-a-pow-camp/#comment-142128 TripleE Mon, 28 Jul 2008 17:21:16 +0000 http://www.getrichslowly.org/blog/?p=1945#comment-142128 Heh, I had to read this in highschool economics. Absolutely brilliant stuff. Heh, I had to read this in highschool economics. Absolutely brilliant stuff.

]]> By: bill in houston http://www.getrichslowly.org/blog/2008/07/22/the-economics-of-a-pow-camp/#comment-141908 bill in houston Sat, 26 Jul 2008 18:08:30 +0000 http://www.getrichslowly.org/blog/?p=1945#comment-141908 Interesting the article on a POW camp shows an ad for John McCain. Was this on purpose? Coincidence? Or is this an example of contextual advertising where the word POW automatically shows a McCain ad. Interesting the article on a POW camp shows an ad for John McCain. Was this on purpose? Coincidence? Or is this an example of contextual advertising where the word POW automatically shows a McCain ad.

]]> By: TheAnand http://www.getrichslowly.org/blog/2008/07/22/the-economics-of-a-pow-camp/#comment-141596 TheAnand Thu, 24 Jul 2008 21:03:56 +0000 http://www.getrichslowly.org/blog/?p=1945#comment-141596 this is a great read...economics at its best. this is a great read…economics at its best.

]]> By: Zomi http://www.getrichslowly.org/blog/2008/07/22/the-economics-of-a-pow-camp/#comment-141453 Zomi Thu, 24 Jul 2008 03:27:31 +0000 http://www.getrichslowly.org/blog/?p=1945#comment-141453 Come to think of it, we're actually using a lot of currencies, not just money. There's edible currency, influence currency (scratch my back, I'll scratch yours), even a genetic currency where ugly rich men marry stunning dunderheads to improve their genetic pool. Who knows what type of currency we would think up in the years to come? Come to think of it, we’re actually using a lot of currencies, not just money. There’s edible currency, influence currency (scratch my back, I’ll scratch yours), even a genetic currency where ugly rich men marry stunning dunderheads to improve their genetic pool.

Who knows what type of currency we would think up in the years to come?

]]> By: Paul Williams http://www.getrichslowly.org/blog/2008/07/22/the-economics-of-a-pow-camp/#comment-141369 Paul Williams Wed, 23 Jul 2008 19:09:43 +0000 http://www.getrichslowly.org/blog/?p=1945#comment-141369 This reminds me of a TED Talk I watched recently. A guy talked about how cell phones are being used to transfer money in some third world countries. One guy in a village has a cell phone. Family who work in the city will buy a pre-paid cell phone card and then call the guy in the village. They give him the information for the pre-paid card and he uses it to charge up his cell phone. The village cell phone guy then gives money to the city worker's family after taking a commission. Then when people in the village want to use the cell phone, they pay him for the minutes they use. Essentially, they created a currency with something that we would never think of as a currency. Here's the talk, but it's more than about this story above. (I actually didn't care for most of the talk. The part I'm referencing is at 8:00 in the talk.) http://www.ted.com/index.php/talks/jan_chipchase_on_our_mobile_phones.html This reminds me of a TED Talk I watched recently. A guy talked about how cell phones are being used to transfer money in some third world countries.

One guy in a village has a cell phone. Family who work in the city will buy a pre-paid cell phone card and then call the guy in the village. They give him the information for the pre-paid card and he uses it to charge up his cell phone. The village cell phone guy then gives money to the city worker’s family after taking a commission. Then when people in the village want to use the cell phone, they pay him for the minutes they use.

Essentially, they created a currency with something that we would never think of as a currency.

Here’s the talk, but it’s more than about this story above. (I actually didn’t care for most of the talk. The part I’m referencing is at 8:00 in the talk.)

http://www.ted.com/index.php/talks/jan_chipchase_on_our_mobile_phones.html

]]> By: jim http://www.getrichslowly.org/blog/2008/07/22/the-economics-of-a-pow-camp/#comment-141294 jim Wed, 23 Jul 2008 11:07:43 +0000 http://www.getrichslowly.org/blog/?p=1945#comment-141294 It's like this in all prisons, not just POW camps. It’s like this in all prisons, not just POW camps.

]]> By: Nikhil Narayanan http://www.getrichslowly.org/blog/2008/07/22/the-economics-of-a-pow-camp/#comment-141280 Nikhil Narayanan Wed, 23 Jul 2008 09:17:46 +0000 http://www.getrichslowly.org/blog/?p=1945#comment-141280 Amazing paper. Good read. -Nikhil Amazing paper.
Good read.
-Nikhil

]]> By: Kiran http://www.getrichslowly.org/blog/2008/07/22/the-economics-of-a-pow-camp/#comment-141258 Kiran Wed, 23 Jul 2008 04:25:19 +0000 http://www.getrichslowly.org/blog/?p=1945#comment-141258 This paper was one of things we used in my econ class senior year. I can't remember the course name though. No texts, just papers like this. Most of the class was a little boring (professor was long winded). But the papers were awesome. This paper was pretty much my favorite thing about the class. This paper was one of things we used in my econ class senior year. I can’t remember the course name though. No texts, just papers like this.

Most of the class was a little boring (professor was long winded). But the papers were awesome. This paper was pretty much my favorite thing about the class.

]]> By: Ethan http://www.getrichslowly.org/blog/2008/07/22/the-economics-of-a-pow-camp/#comment-141247 Ethan Wed, 23 Jul 2008 02:15:07 +0000 http://www.getrichslowly.org/blog/?p=1945#comment-141247 "There was a coffee stall owner who sold tea, coffee or cocoa at two cigarettes a cup" That coffee guy is a highway robber. Fascinating paper for us economy nerds. ^^ “There was a coffee stall owner who sold tea, coffee or cocoa at two cigarettes a cup”

That coffee guy is a highway robber.

Fascinating paper for us economy nerds. ^^

]]> By: jim http://www.getrichslowly.org/blog/2008/07/22/the-economics-of-a-pow-camp/#comment-141242 jim Wed, 23 Jul 2008 00:45:37 +0000 http://www.getrichslowly.org/blog/?p=1945#comment-141242 Interesting, thanks. Reminds me of one of my favorite novels, Clavell's 'King Rat,' though it's more about capitalism than economics. Interesting, thanks. Reminds me of one of my favorite novels, Clavell’s ‘King Rat,’ though it’s more about capitalism than economics.

]]> By: Mama Bear http://www.getrichslowly.org/blog/2008/07/22/the-economics-of-a-pow-camp/#comment-141237 Mama Bear Tue, 22 Jul 2008 23:44:54 +0000 http://www.getrichslowly.org/blog/?p=1945#comment-141237 FANTASTIC. Thank you! Am linking this in a future Link Love post. FANTASTIC. Thank you! Am linking this in a future Link Love post.

]]> By: RacerX http://www.getrichslowly.org/blog/2008/07/22/the-economics-of-a-pow-camp/#comment-141223 RacerX Tue, 22 Jul 2008 22:21:05 +0000 http://www.getrichslowly.org/blog/?p=1945#comment-141223 I loved the story and parable! Empire of the Sun has a set of great scenes of John Malkovich running the camps black market and the kid (the future Batman) Christian Bale as the young child helping as a runner. I loved the story and parable!

Empire of the Sun has a set of great scenes of John Malkovich running the camps black market and the kid (the future Batman) Christian Bale as the young child helping as a runner.

]]> By: Mike Bahr http://www.getrichslowly.org/blog/2008/07/22/the-economics-of-a-pow-camp/#comment-141220 Mike Bahr Tue, 22 Jul 2008 21:40:52 +0000 http://www.getrichslowly.org/blog/?p=1945#comment-141220 Yeah, this is actually amazingly interesting. I try to imagine what would happen with edible currency, and in a sense we have that already, when one considers narcotics and the like. They're barely a step removed from direct inhalation of the currency used to acquire them. Of course, currency also doesn't go stale, a factor on the bread side of the equation. Yeah, this is actually amazingly interesting. I try to imagine what would happen with edible currency, and in a sense we have that already, when one considers narcotics and the like. They’re barely a step removed from direct inhalation of the currency used to acquire them.

Of course, currency also doesn’t go stale, a factor on the bread side of the equation.

]]> By: plonkee http://www.getrichslowly.org/blog/2008/07/22/the-economics-of-a-pow-camp/#comment-141216 plonkee Tue, 22 Jul 2008 21:22:57 +0000 http://www.getrichslowly.org/blog/?p=1945#comment-141216 This <em>is</em> an amazing paper. I've always thought that even if you gave everyone the same starting point, some would do better than others. Clearly the key in the POW camp was not to smoke, so you wouldn't have an intrinsic need for the currency. But they also mention saving bread rations and then selling them when they are at their scarcest. This is an amazing paper. I’ve always thought that even if you gave everyone the same starting point, some would do better than others. Clearly the key in the POW camp was not to smoke, so you wouldn’t have an intrinsic need for the currency. But they also mention saving bread rations and then selling them when they are at their scarcest.

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