Monday, July 23, 2007


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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