Economics in Netflix’s Squid Games
On September 12, 2021, the Korean series Squid Games dropped on Netflix and fast became the most watched series on the streaming service. This show follows the main character, Gi-Hun, as he struggles with gambling debt and voluntarily enters into a competition to play deadly children’s games in return for a massive cash prize. This show is a commentary on capitalism in South Korea because, though the system inside the game is presented as everyone having a fair shot of the money, those who entered who were physically stronger, had special skills, or were more educated naturally advanced to the top spots (Tagat 1).Through this twisted commentary on capitalism, audiences see several economic principles come into play such as specialization, incentives, and the normative economics that questions the morality of offering a dangerous game to a group of people with little to no options left in the world.
During the series we see a glassmaker use his specialization to advance his fellow teammates cross a glass bridge by examining each tile in the light to see which glass was real and which was tempered. In another game, player 001 used his keen remembrance of his childhood to tell his teammates the most efficient way to win at a game of deadly tug of war. These two instances advanced not only the player, but the group.
As the game progressed, the creators of the game revealed that for every player killed, extra thousands of dollars are added to the overall jackpot, creating an incentive for players to form gangs and kill other players before the next game.
The show introduces normative economics in the fact that the game makers are targeting a very specific group of people to participate in their deadly game. While the participants are free to choose whether or not they wish to play this game, the producers show the tragic living and working conditions of those in the streets of Korea and heavily imply that the games are a form of exploitation and therefore immoral.
Squid Games is a television show full of economic principles and morality questions. Throughout the show Gi-Hun learns to play smartly, listen to the specialization of others, understand the incentives, and overall realize the twisted morality and exploitation of the game makers.
Works Cited Tagat, Anirudh, “Squid Game: How Behavioural Economics explains characters' actions in Netflix hit”, News Nine.
Hey Amy! I have not watched Squid Games but everything you said is spot on! This was a very creative way to tie Economics into today's hit entertainment. It is such a great demonstration of the corruptness of leading officials as well as a morality issue that everyone is faced with. When those contestants understood the advantages of eliminating their opponents, morality was thrown out the window and it was every man for himself. It is not uncommon for the incentive of money, promotions, or becoming higher up in a job to alter a man's judgement in how to achieve their goal. Great post!
Hello Amy, this post was very informative. I watched the short series Squid Games and did not correlate the two until I read your blog post. When looking back at the series, I recalled the glassmaker telling which was fake from real. This was then tied to a specialized skill that allowed him to advance in a capitalistic society. Economics is at work daily even when we do not see it. Great post.
Amy, this blog post truly captivated me. I am one of the few that has yet to watch Squid Game, but your comments give me a greater understanding of the inner workings of the economics found within the show. Keep up the good work!
Amy,
I love this connection! The Squid Games series have great commentary on capitalism and other key terms we have learned from this course of microeconomics. Ever since taking this class, I know see the "incentive" for a character to do something in a TV show or film, so I appreciated this correlation between such an amazing show and relevant material in the class. Great work!
Squid Games was a crazy film series, with a crazy impact on sales in many categories. I am shocked that a tv series that was rejected by multiple people actually impacted so many different brands/products. It is truly amazing.
Amy,
Squid Games has been on my watch list for quite some time, now! Your analysis of it is fascinating. It is interesting to see the motives linked to money, which is very common, and how the players each turn to the people who are specialized in a specific area. In terms of the glassmaker, without his extensive knowledge of glass and what makes it strong (and therefore safe to cross), many people would have presumably died there, as they would not be able to see or tell the difference between what is safe and what would lead to their ultimate demise. They turned to a specialist for help, resulting in the lives being spared and the betterment of the people turning to him. His specialty benefited the group immensely. Interesting read, thank you!
Economics Vs Ethics
Why is death a factor included in squid games and why don't people realize they are worth more than the monetary obligations or debt they have?
Squid games could have easily been executed without lose of life. In fact a real life squid game has been put together and executed with a large cash prize paid out to the winner. Even following the premise of the show in that a rich man wanted to recapture an enjoyable part of his life thus creating the squid games did not necessitate death. What use is money to the dead; none.
IN reality the characters in this show are not the only individuals playing with their lives. Satan waives prize money at people who embezzle money, deal/ use drugs, are involved in human trafficking, etc. all focused on the possibility of receiving a prize not grasping the fact their risking their life with lottery odds. Unfortunately, people place money in a higher priority than their morals and in this case their own morality.
Amy,
This was very interesting! I have not seen Squid Games myself, but I have heard a lot about it. From reading what you wrote, it is obvious that there truly are a lot of principles of economics in the show, which goes to further the idea that economics is everywhere. Your analysis of it is very impressive and informative. Thank you!
I have not seen the Squid Games, but now I am interested! It is interesting how a money changes people's behavior. Would the participants have considered forming gangs or resorting to violence if money was not on the line? Would the people hosting the games derive the same amount of pleasure if they did not have wealth? I am sure there are many studies on the subject. You made a good observation about people using their specializations to benefit the group. Your post was very creative, entertaining, and thought provoking!
I have seen squid games but reading this I realized how much of the economic aspect I had missed and hadn't even noticed was there. I almost feel the need to re watch it to understand it better. You did a really good job explaining the role that economics played in the show. Very good and interesting post.
This was a really interesting read! While I have not watched Squid Games, it did intrigue me because of its supposed social commentary on capitalism, so I appreciate how specifically you broke down the economic aspects present in the show. It is interesting to think of how even somewhat basal survival situations still involve a level of economics, which I know I tend to think of as a fairly civil kind of topic.
This is so fascinating! I have not watched the Squid Games series yet but this makes me want to! It is cool that economics can pop up in everything, even a Netflix show!