This is the video we made for our Econ 002 Project at Penn State University.
Galen, Stef, and Matt are class of '12
Linh is class of '11
If you're having cash problems I feel bad for you son, I got 99 problems Economics ain't one.
Supply is the curve that looks like y=x
Demand goes the other way, forget the rest
Quantity on the x axis, price on the y
If price is low, you know quantity is high
Now we all know that money makes the world go round
Income goes up, demand for inferior goods goes down
I'm spendin money like it don't mean nothin
Going on a spree - i'm sure i'll find somethin
Price for polos goes up, instead i'll buy a sweater
Ain't no big deal, i guaruntee it's better
That's what we call a substitute
If it gets too expensive, we can give it the boot
Compliments work the other way
If it gets too expensive, this is what i say
I'm not buyin the compliment, no, i'm done
I got 99 problems economics ain't one
The year's '91 and it's Coase's law
This is modern economics so listen up yall
Two neighbors decide that they gonna get raw
Fighting over property thats common to all
Now we ain't trying to see no state cops with mace
So Coase took the case, stepped up to the base
He said, "Sons do you know why you're fighting for?"
tragedy of the commons we can't ignore
Like we don't have an ozone layer anymore
we all own the earth, but going green's a chore
responsible no more, we sit back and snore
Coase saw the problem, saw us hitting the floor
We don't need some lawyer who just passed the bar
Assign property rights, that'll get us on par.
So no need for fighting, there's a easier way
Whoever benefits most, fo sho should pay.
Keeping us from cries, those anthems of demise
The theorem he devised, from his mind arised
Allocation of property rights, no lies
Word from the wise, won Nobel Peace Prize
RESPECT the free common property son,
I got 99 problems, economics ain't one.
Now once upon a time not too long ago
four of Dirk's students fired up a flow
defining scarcity and the facts that be
because when you're spending time, money, or energy
you're dealing with limited resources G,
Don't wanna use them up to easily.
Like gas for your cars you be wearing the scars
of ever rising prices never hitting the bar
we're caught in a trap of infinite need,
or wants for everything, but that's our breed.
But what can you do when you think it's through?
The world is our source, that that's finite too.
We're faced with a problem, one of 99
Of balancing our demands with our finds.
Cause if we're filled with greed, you'll be feeling the need
To unshackle your cuffs, and pray to be freed.
Ain't nothing about cash this rap is done,
I've got 99 problems, economics ain't one.
Thank you for reading!
Based off of Jay Z's "99 Problems"
Just pause the video if you need our sources