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  Why Superman Doesn’t Take Over the World

  Emily O’Roark

  Why Superman Doesn’t Take Over the World

  What Superheroes Can Tell Us About Economics

  J. Brian O’Roark

  Great Clarendon Street, Oxford, OX2 6DP, United Kingdom

  Oxford University Press is a department of the University of Oxford. It furthers the University’s objective of excellence in research, scholarship, and education by publishing worldwide. Oxford is a registered trade mark of Oxford University Press in the UK and in certain other countries

  © J. Brian O’Roark 2019

  The moral rights of the author have been asserted

  First Edition published in 2019

  Impression: 1

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  Published in the United States of America by Oxford University Press 198 Madison Avenue, New York, NY 10016, United States of America

  British Library Cataloguing in Publication Data

  Data available

  Library of Congress Control Number: 2018954999

  ISBN 978–0–19–882947–8

  ebook ISBN 978–0–19–256490–0

  Printed and bound in Great Britain by Clays Ltd, Elcograf S.p.A.

  Links to third party websites are provided by Oxford in good faith and for information only. Oxford disclaims any responsibility for the materials contained in any third party website referenced in this work.

  To Emily, Katie, and Maggie who still believe in superheroes, and to my mother who was one.

  “Look up in the sky! Is it a bird? Is it a plane? No, it’s Super-Econman, Brian O’Roark, the mild-mannered author of Essentials of Economics with his latest adventure, What Superheroes Can Tell Us About Economics. Brian uses the lens of economics to analyze the actions, reactions, and behaviors of dozens of superheroes. This light and breezy read will have your mind soaring as you learn to see your favorite heroes in an entirely new light. Up, up and away!”

  Dirk Mateer

  Author of Principles of Economics W.W. Norton, and Professor, University of Arizona.

  “Why doesn’t Superman take over the world? This is just one of the many questions I didn’t even know I needed answers to until I picked up this book. Whether you are a fan of comics, an economist, both, or neither, this book lets you dive into far-fetched worlds and realize that perhaps superheroes and villains aren’t always so out of the ordinary. Using an economic perspective, Brian explores what drives superheroes to do the things they do, and be who they are. Why does Batman even need Robin if he can do everything Robin can and more? Why does someone like Spider-Man keep his true identity secret, while Reed Richards doesn’t seem to mind if the world, and the villains out to get him, know who he really is? And of course, if Superman is so powerful on Earth, why doesn’t he take over the world? With a fun and interesting take, it is revealed that superheroes alike, are faced with many of the same struggles as those they strive to protect, and aren’t really that different from you and me.”

  Tahlia Murdoch

  Host of the Everything Economics podcast.

  “Economics and superhero stories seem worlds apart, but under the surface, they are very similar. Both build logically from premises to create convincing worlds, and our belief in those worlds depends on how well the models follow their own rules. Brian O’Roark cleverly applies the analytical tools of economics to questions that have stoked arguments among comic fans for decades, gently offering examples of economic reasoning and principles that today’s students might find more entertaining than the typical textbook approach. With Why Doesn’t Superman Take Over the World? O’Roark scores a trifecta, bringing social sciences, comics studies and pedagogy together in a unique and entertaining package.”

  Rob Salkowitz

  Author of Comic-Con and the Business of Pop Culture, FORBES contributor, and affiliate faculty, University of Washington.

  “Brian crafts a captivating book that presents economic concepts through the lens of superheroes. This symbiotic relationship actually works! Just like the relationship between Batman and The Joker, or Superman and Lex Luther, Brian has managed to make superhero comics an integral part of the economics discipline. Why Superman Doesn’t Take Over the World allows the reader to understand economics with ease while at the same time being entertained by the actionable stories of our favorite comic book superheroes. I’m convinced Brian goes to work incognito just like Clark Kent, so let this book be Brian’s superhero gift to you in the pursuit of increasing your economics superpowers. I just wonder what color spandex he wears for his alter ego!”

  Frank Conway

  Lecturer, Waterford Institute of Technology and host of the Economics Rockstar podcast.

  Acknowledgments

  As in the production of any book, there are many people who make the author look better than he really is. Even when the topic involves something as enjoyable as economics and superheroes, even when the early drafts are incredibly easy to write, there are people who bring you back to Earth and make the final product inestimably better.

  First, Frank Conway deserves credit for making this book happen. Frank produces the Economic Rockstar podcast, and insisted, much to my dismay, that we talk about my nascent work on superheroes. Apparently, there is a larger audience for the pod than I imagined.

  Christie McMahon and Jerry Isakoff were their wonderful selves. Thank you so much for the use of your place on the lake. Those four days made all the difference in completing the first draft.

  To great friends who read early draft chapters for a variety of reasons. Jason Farone and Jarod Kettinger because they like economics; Ben and Janette Marnik because they couldn’t believe comics and economics could go together; Matt Frey because he is curious; and Jeff Konzcal because he’s my brother-in-law and an all-around great guy.

  To the fantastic people at Oxford Press who made this endeavor possible, thank you. Even though the ink is dry, it seems impossible to think that this project happened. To, the amazing Katie Bishop who, in the comics is the new Hawkeye, but must have an alias as an editor, I can’t believe you listened to Frank’s podcast! Lydia Shinoj, who answered all of my questions and then some. Thank you so much for putting up with some rather odd requests. Elizabeth Stone for her expert editing work. Michael Janes for correcting the many grammatical errors and not making me feel too bad about it. Phil Henderson, Kim Behrens, and the marketing team, including the most amazing cover design artists in the publishing world. Alannah Santra, Catherine Owen, and all of the people at Oxford Press who made this a reality. You are a real life team of superheroes.

  Finally, and most importantly, to my family, who allowed me to take time away from what they were involved with to write a book that mixes a very new interest with a much older one. Without their patience, and editorial and creative advice, there is no conceivable way this book would have become a reality. Now that it is complete, it is time to catch up on all those CW hero shows we got behind on. Thank you, and I love you.

  Table of Contents

  List of Figures

  List of Tables

  Introduction


  1. Everyone Loves a Good Backstory, Even Economists

  2. Who Is That Masked Man?

  3. Keep Your Friends Close, Or Why Do Superheroes Team Up?

  4. But Your Enemies Closer…Why Do Superheroes Fight Each Other?

  5. Don’t Give Up Your Day Job. Why Do Superheroes Go to Work?

  6. Give Up Already! When Superheroes Are Fighting Crime, Who Wants to Be a Criminal?

  7. Who’s Going to Clean Up This Mess?

  8. Where Do They Get Those Wonderful Toys?

  9. Why Don’t Superheroes Take Over the World?

  10. Who Is the Greatest of Them All?

  Glossary

  Index

  List of Figures

  3.1. Production Possibilities of Batman and Robin

  3.2. Combined Production of Batman and Robin

  4.1. The Rogue’s Dilemma

  4.2. The Avenger’s Dilemma

  8.1. Batgirl’s Production Possibilities Curve

  8.2. Production Possibilities Curve with New Technology

  10.1. Hero Utility Curves

  10.2. Optimal Hero Work for Ant-Man and Superman

  List of Tables

  3.1a. Batman’s Production Possibilities

  3.1b. Robin’s Production Possibilities

  3.2. Heroes Do Not Specialize

  3.3. Heroes Specializing

  8.1. Batgirl’s Production Possibilities Data

  Introduction

  For most, superhero stories and economics could not be more different. Superhero stories are entertainment, whilst economics is not generally seen as the most entertaining subject. Answering questions about what happens in the comics using economics may therefore at first glance appear to be a fool’s errand—but economics isn’t all theories and equations. It is a social science, born of the inquiries into human behavior that have fascinated us since the beginning of time. Economists—like sociologists, psychologists, political scientists, and historians—are trying to understand what makes people tick and, in discovering this, aim to make the world a better place. In that sense we’re kind of like superheroes. Sure, we don’t have the cachet of Superman, the ability to deliver a quip like Spider-Man, or the adoration of Wonder Woman. We’re probably looked at more like the vigilante, dark and edgy. They get the job done but they’re just on the border of legal, and the crowds are waiting to turn on them.

  Who am I kidding? Economists are most definitely seen as the villains in comics are. A jumpy, twisted lot who revel in imagining we are the smartest people in the room, overlooked for the geniuses that we are, and lacking in social graces. As such we turn our powers to the misery of the world, creating diabolical torture devices such as profit maximizing formulas, Solow residuals, and Keynesian crosses, all while fomenting marginal revolutions. Considering the myriad of other tools at our disposal, the majority might have it right. Perhaps we are villains.

  Before a conclusion can be drawn on that point though, I ask that you at least finish reading this introduction. Despite the possibility of diabolism, it is the purpose of this book to enlighten. Economists like to say that economics is everywhere, and I can think of no better testing grounds for that presumption than the world of comic book superheroes. If indeed the maxim is correct, these dreaded economic tools should be applicable even in the imaginary world of caped crusaders, masked marvels, and daring do-gooders. So, like a giddy tornado hunter, here is an economist running headlong into what is likely to be a chaotic and turbulent ride in the hope of answering some of the most perplexing comic book puzzles through the tricky tools of economics.

  Most sections of this book revolve around peculiarities that have been raised by many comic fans, both casual and serious. As a more recent convert to comics, and an economist for longer than I’d like to admit, I bring a different perspective to these questions. Exploring why people pursue certain courses of action is part of the job of an economist, and with the tools of the trade at my disposal, this book provides a new angle on some of these questions. Issues such as why heroes fight each other (Chapter 4), who pays for all the destruction inflicted on innocent bystanders when heroes battle villains (Chapter 7), and how non-powered heroes can be part of the action (Chapter 8) are queries that are perfectly situated for economic analysis.

  If you’ve never taken an economics course, don’t be cowed. This book is for you. I have provided definitions of terms along with explanations of theories to guide you. If you have taken an economics course but it’s been a while, then hopefully these applications will trigger some fond memories of an eloquent professor. If you are currently studying the dismal science,1 this book will hopefully illustrate to you that economics can be found in places where you least expect it, and that by understanding the basics you will gain a deeper appreciation for the subject.

  If you don’t know anything about comics, this book is for you too! These days, comics are ubiquitous. Not only do superhero movies top the box office charts year after year in terms of attendance, and more importantly revenue, but they also form the premise for television shows, video games, and merchandise that are watched, played, or worn by hundreds of millions, if not billions, worldwide. An in-depth knowledge of comics is not necessary to read this book, however. If you have heard of characters like Black Panther, Captain America, the Flash, Spider-Man, or Wonder Woman, you’ve got all you need to know.

  That being said, following comics can be a bit tricky. Story arcs are rarely straight. Continuity can be difficult to maintain and not every adventure written about a character makes it into the canon. There are many different types of stories and the links I will be making here are not always part of the accepted comic universe for particular characters. Some graphic novels provide excellent economic content but are stand-alone chronicles. What happens in those stories stays in those stories. For instance, if a character dies in a graphic novel, it doesn’t mean they are dead in the rest of the comic world. To the avid comic readers, I apologize ahead of time for adopting this irreverent approach, but since this isn’t a book about comic history I do not feel bound by the canonical limits of the stories.

  Another issue that might irk some comic devotees is that I am openly and admittedly biased in my reading. I will chalk it up to watching cartoons in the 1980s but I have penchant for DC (although when it comes to movies, Marvel gets the nod). I have tried to temper that enthusiasm as much as possible but old prejudices are hard to squash entirely. You might think that my references to Batman, Superman, and Wonder Woman are too frequent, and that I have missed an opportunity to explain how the Hulk, Doctor Strange, or Ms. Marvel are equally impacted by economic circumstances. Believe me, I understand and would be more than happy to hear what you have to say about these characters. I came to comic books later in life and I admit there are lakes into which I have not dared to dip a toe.2

  That’s just to say that if I did not include your favorite hero, it was by no means intentional (at least it probably wasn’t intentional, we all have biases against some characters, just as much as we have biases in favor of others). The most likely reason was because I just haven’t had the time to read every comic out there. If you think there is something I missed, you are almost certainly correct, and I’d love to hear your insights.

  A Brief Primer on Economics

  Chapter 1 discusses what economics is in some detail, but I think it would be valuable to provide a quick introduction to economics for the non-economist at this point. Firstly, economics doesn’t have to be mathematical, although it often is. It doesn’t have to be dry and boring, although it often is. Economics doesn’t need to be mystical, although it often is. According to one great economist, Alfred Marshall (1890/1920), economics is simply “a study of mankind in the ordinary business of life.” That means that if you are human and engage at any level with other people, you are a walking model of economics. The reason we have to conduct such mundane business is due to scarcity, what some refer to as the economic problem. Humans are needy creatures, but even i
f we have all that we truly need to survive, there are many things we want. Whether it is due to wanton avarice or a vicissitude of fortune, there are always things we would like to have but cannot acquire. In this world there isn’t enough of everything for everyone to have as much as they want, which means we all have to deal with scarcity, thus we all deal with economics.

  The consequences of scarcity have led economists to split their discipline into two areas: micro and macro. Microeconomics is the study of how individuals, firms, and industries deal with scarcity in everyday life. It is a smaller analysis, but by no means unimportant. Macroeconomics explores larger scale events, data, and decisions. Things that happen at the national and international level are macroeconomic in nature. These terms are not meant to convey importance, rather they are descriptive. The distinction is made to better understand at which level of everyday life we are looking.

  The economics of this book will lean much more heavily towards the micro. Characters in the stories make decisions that are driven by their own self-interest and will have relatively small-scale consequences. Why heroes wear costumes (Chapter 2), why a hero needs a day job (Chapter 5), and why criminals keep trying even in the face of constant defeat (Chapter 6) are questions focusing on the decisions characters make that impact their personal lives. Even when groups of heroes team up (Chapter 3), they are still confronting issues at a micro level as their choices will affect themselves and a smaller group of people. There are a couple of macro questions in the comics though, as sometimes hero work is geared toward the good of a nation, or the entire planet, as is the case in Chapter 9 “Why don’t heroes take over the world?”

  An Even Briefer Primer on Comics