George Jeffersonomics, that is.

TV Land’s Labor Day Weekend The Jeffersons marathon got us wondering about economics and economic myths. Weezy somehow managed to convince George that he was charging to much for dry cleaning and that he had a social responsibility to cut prices and … lose money. At episode’s end George was cutting prices – but the George we know and love certainly jacked them back up as soon as his wife wasn’t looking.

Free people everywhere from Bavarian shopkeepers to Masai herders onto Chinese peasants know very well where their own interests are to be found – all the way from the value they place on private property onto how they make and spend money. All of us humans find security in secure ownership and appreciate the notion of “buying for a dollar and selling for two” and spending money just however we like. The key concept here is ‘free’. (more…)