Monday, July 23, 2007

Potteronomics

An excellent chapter for my economics learning, Megan McArdle of The Economist explains why Harry Potter novels are very poor examples of economics.

But this actually presents a problem for authors. If magic is too powerful then the characters will be omnipotent gods, and there won't be a plot. Magic must have rules and limits in order to leave the author enough room to tell a story. In economic terms, there must be scarcity: magical power must be a finite resource.

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