Wednesday, September 12, 2018

Monopoly

Image result for monopoly guy
The Monopoly Guy

The Original Monopoly game was made in the early 1900's by an American,  Elizabeth Magie. It was originally intended to teach monopoly, income inequality, and Ricardo's law of economics. In a way, Monopoly was created as a satire towards major economic powerhouses of the time-- Rockefeller, Carnegie, J.P Morgan, etc.  However, nowadays, people play monopoly it as a fun board game that deals with fake cash. 

The portrayal of income inequality was huge from Monopoly. As people get rich, they only get richer. The people who end up poor will only end up poorer. As a model of social Darwinism, Monopoly explains the cyclical and detriments of income inequality under a monopolist economy. 
For example, Andrew Carnegie would get a yearly income of 2 million dollars while his employees would get less than half a thousand dollars each year.  







1 comment:

Anonymous said...

That is very true once you are rich you stay rich and once you are poor you stay poor. Why do you think this was the case why could rich people become poor and poor people become rich??

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