Evilomics

Microeconomics. It hurts to even see that word on my blog...but! I have something very important that all of you should know: I have determined that economics are the worst kinds of evil! I have come to this conclusion while studying for my final.

One important concept of microeconomics is Game Theory-used in Oligopoly (basically when only a few major corporations run a market; like the auto industry) ((p.s. Oligopoly is a sweet word and I feel like it should be the new name of "Monopoly" the game.)).  But Game theory introduces the payoff matrix.  This matrix helps firms determine what route they should take. ...here's where the evil comes in...

Take an example from one of the sweetest heroes ever: Batman.  Specifically, The Dark Knight.  Now lets take a look near the end of the movie when Joker has the two ferries rigged with explosives. One ferry full of convicts, one ferry full of nice innocent people.  He gives each the detonator to the other boat. The Joker's game is that one has to blow the other up first in order to survive: if no one detonates on purpose then they all will die. Now we all understand the moral dilemma here...but economists don't!!

Here comes the payoff matrix:

Ferry 1	Ferry 2
		Don’t Detonate	Detonate
	Don’t Detonate	(0,0)	(0,1)
	Detonate	(1,0)	(1,1)

Now an economist would say, let's do what's best for us! The goal of the matrix is to determine the highest payoff (get a score higher than your competitor).  For Ferry 1, if Ferry 2 doesn't detonate, they'll choose detonate just so they can score 1.  Same with Ferry 2, if Ferry 1 doesn't detonate, they'll choose detonate.  No matter what each ferry does, it's in both their interests to detonate.  The "Nash Equilibrium" (What you're supposed to pick) would be (1,1), both detonate.  Everyone dies.

The Joker (arguably the best bad guy in the history of comics) was depending on the people picking the Nash Equilibrium because he was an economist.  Fortunately, there were no economists on the ferries and they did what was morally right! Batman ended up saving day and the Joker was owned.

Moral of the story:
Joker = Evil  
Economics=Joker  
Economics=Evil