I never expected a math-focused college course to open my eyes to different pieces of film and television, but that is just the case with a show on Netflix called Peaky Blinders. Within this show (based on a real gang by the same name), the audience follows a family-run gang, the Shelby family, who runs a horse-race betting company, as well as most of the town of Birmingham, UK in the 1920s. Through both watching Peaky Blinders and taking this course, I have become increasingly aware of the economic content that this brilliantly-written show has to offer. It is easy to get lost in the heavy dialogue between characters, as it is mostly centered around the economic and political affairs of the gang and the city of Birmingham; however, learning about microeconomics in-depth has allowed me to understand more clearly the different issues that the gang is facing and the overarching plot. If I were to summarize this show to anyone, I would explain that it is just 45 minutes an episode of deals and negotiations between businessmen with cockney accents (nothing better, right?). I can now easily point out the motives of different gangs and politicians and understand just how intertwined economics is to everything about society. I also have grown to admire (from a distance, as they are all gang members) the lead character, Tommy Shelby, for his excellence in negotiation, leadership, and observation skills. He understands the business of everything around him and knows how to find a compromise, while still making sure he receives some profit, everywhere he goes. The section of the Modern Principles of Economics where we discussed the nature of cartels also added to my knowledge and understanding of this show, allowing me to witness how government regulations and bans (like prohibition and betting laws in the ‘20s) create incentives to band together with like-minded businesses and discover loopholes in laws enacted. All in all, I have learned much from Microeconomics and look forward to applying more of this content to my binge-watching this Christmas break. :)
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Thank you for your post! I was so excited to see that someone had posted about Peaky Blinders! I love that show! I had not previously considered the important role that microeconomics plays in the show, but now that is all I can think about, especially when it comes to Tommy Shelby's dealings in the horse-race betting industry. In fact, it seems that through the Shelby family's brutal tactics, they may have created a monopoly for themselves in the industry, or at least an oligopoly. Throughout the show, you also see Tommy considering the opportunity cost of his decisions several times as he attempts to determine what will be the wisest action to pursue.