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!