Seinfeld-onomics

Planet Money

NPR

Business, News

4.6 • 29.8K Ratings

🗓️ 3 March 2023

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

The 90s sit-com Seinfeld is often called "a show about nothing." Lauded for its observational humor, this quick-witted show focussed on four hapless New Yorkers navigating work, relationships...yada yada yada.

Jerry, George, Elaine & Kramer set themselves apart from the characters who populated shows like Friends or Cheers, by being the exact opposite of the characters audiences would normally root for. These four New Yorkers were overly analytical, calculating, and above all, selfish.

In other words, they had all the makings of a fascinating case study in economics.

Economics professors Linda Ghent and Alan Grant went so far as to write an entire book on the subject, Seinfeld & Economics. The book points readers to economic principles that appear throughout the show, ideas like economic utility, game theory, and the best way to allocate resources in the face of scarcity.

On today's show, we make the case that Seinfeld is, at its heart, not a show about nothing, but a show about economics. And that understanding Seinfeld can change the way you understand economics itself.

This episode was produced by Alyssa Jeong Perry with help from Emma Peaslee. It was edited by Keith Romer. It was mastered by Robert Rodriguez and fact-checked by Sierra Juarez. Jess Jiang is our acting executive producer.

Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

Transcript

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0:00.0	This is Planet Money from NPR.
0:03.6	Just a heads up for parents, part of this episode talks quite mathematically about contraception.
0:12.5	There are two sides to Professor Linda Gent.
0:15.8	There is the side that worries about social norms, and then there is the side that is an
0:22.0	economist.
0:23.0	I always joke with my students about wanting to pay the person who sits in front of me
0:27.8	on an airplane to not lean back through seat if I want to work on my computer.
0:32.9	Linda teaches economics at Eastern Illinois University.
0:36.7	But I'm always worried to make that offer because they might look at me like I'm absolutely
0:41.6	crazy.
0:42.6	And I've never done it because I'm just always worried about what reaction I would get.
0:49.0	Even though as an economist, I know it's the right way to deal with that situation.
0:53.7	And you know what show that scenario would be right at home on?
0:56.0	I can think of one.
0:57.3	Sign felled.
0:58.3	Absolutely, sign felled.
1:00.8	Sign felled.
1:04.6	There is a case to be made that the very popular 90s sitcom was actually full of economics.
1:09.4	Yeah, yeah, hear us out here.
1:11.3	So sign felled was famously called a show about nothing because it's about comedian Jerry
1:17.8	Sign felled and his three friends, George Elaine and Kramer, who just live in New York
1:22.4	City, dealing with the dilemmas of everyday life.
	...

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