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From ABBA to Led Zeppelin: using music to teach economics
From ABBA to Led Zeppelin: using music to teach economics

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This weblog offers a variety of song lyrics that instructors of economics may find useful in teaching economics. Each post includes a selection from the song's lyrics and a brief assignment for students. This site has been accepted for publication in the Journal of Economic Education.

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Open Letter (To A Landlord) - Living Colour

JEL: a d r   

Now you can tear a building down
But you can't erase a memory
These houses may look all run down
But they have a value you can't see...
This is my neighborhood
This is where I come from
I call this place my home
You call this place a slum
You wanna run all the people out
This what you're all about
Treat poor people just like trash
Turn around and make big cash

Click to Listen

Assignment:

In markets, resources tend to move to their highest valued use. Evaluate the statement that "they have a value you can't see..." in light of what you know about resource allocation. Construct an economic argument of why apartment residents might not be able to purchase the apartment from the landlord before its demolition, assuming that they value it higher than in an alternative use. (Hint: liquidity constraints)

By: Joshua Hall
08.30.06 · Permalink
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