Money is usually ... somebody's debt. – Anat Admati, Stanford Business School
It’s easy to bemoan the state of the economy, but how many of us actually understand the financial and governmental intricacies that impact our wallets?
In “We The Economy: 20 Short Films You Can’t Afford to Miss,” production companies Cinelan and Vulcan Productions wanted to set the record straight. According to their website, they asked Hollywood directors to make 20 short films that each answer a question about the economy, all under the umbrella of these five basic concepts:
(Some of the videos in the campaign contain language and other adult content. However, the videos we link to and provide here do not.)
1. What is the economy?
“Cave-o-nomics,” directed by Morgan Spurlock of “Super Size Me” fame, is the first episode in the series. It follows cavemen Ugg and Glugg as they stumble into the beginnings of a market economy. Specialization helps Ugg — skilled in spear making — focus on what he’s good at, trading with master huntsman Glugg for food.
Along with “Lemonade War,” where the seedy underbelly of government regulation is shown through warring lemonade stands, other films explain the economy through supply and demand, gross domestic product and the value of nature.
2. What is money?
In “That Film About Money,” Stanford Business School’s Anat Admati explains, “Money is usually … somebody’s debt.” Because when you deposit money in the bank, it isn’t just stowed away, the bank invests it.
And when a system is based on trust, it can unravel when consumers get spooked. The Pilobolus dance company teamed up with director Lee Hirsch to make “Recession,” a film that uses dance to explain how recessions can happen. In her film, “Twilight” director Catherine Hardwicke shows the role that the Federal Reserve Board plays in the process. And other films explore how money enters the economy and the impact of Wall Street.
3. What is the role of our government in the economy?
“A lot of people use the terms federal deficit and federal debt as if they meant the same thing,” Marshall Curry’s animated short says, “but they don’t.” The film says that the government will need to raise taxes, cut spending and stimulate economic growth if it wants to stay afloat in the long run.
Other films in the series explain the layered-onion that is our tax system, how U.S. tax dollars are spent and the complications of foreign aid spending.
4. What is globalization?
“Made in China by America” explores the new paradox of Southern manufacturing: Chinese companies are now reopening many of the factories in the South that were closed when the jobs were sent overseas.
Globalization was also highlighted in other videos that answered questions about global trade, human rights and job loss.
5. What causes inequality?
The minimum wage debate is explored through Steve James’ “The Value of Work.” In it, minimum-wage workers share their dreams, their disappointments and whether they believe they deserve a higher wage. The video also highlights the ramifications of Seattle’s unusually high minimum wage; mainly, what businesses will have to do to prices in order to pay their employees more.
Other videos call attention to inequality through college graduates entering the workplace and a hospital patient examining his bill.