Friday, July 9, 2010

Gaga Versus A Glut of Goods

Yes, I know that I'm more than a little obsessed


But really, it's not what you think
Lady Gaga holds no fascination for me
but Economics does

Linked by Instapundit, the Lady Gaga Economy

The Lady Gaga phenomenon conquered the Today Show this morning, with what must have been the largest crowd they’ve had in their summer concert series.
In the convoluted way things occur to me, I thought of the contrast between our limping general economy, and her thriving fame-monster micro-economy.

Say’s Law in economics is the proposition that supply creates its own demand. A relative overproduction of certain goods may occur, implying that too many scarce inputs have gone into the production of unwanted items relative to inputs for desired goods. But general overproduction — to which demand stimulus would allegedly provide relief — is not the core economic problem.


Right now, there’s lots of demand for Lady Gaga, say; but maybe too many houses, cars for sale, and hokey Internet startups.

So let me see if I get this right, what he's really saying is that we need more Gaga and less goods.
That just can't be good

Happy Friday everyone
And to my blogger friends who've been sweltering in the heat wave from Canada to France, I wish you cool breezes and plenty of ice for your drinks this weekend.
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5 comments:

kay said...

yes it seems as if GaGa is all over and well it does look like we are all going to get a little more of her then "things" every time you open a mag. or turn on the comp. GaGa!! She is very talented and deserves the credit given, but really? As they where saying today on the news after her show, every girl wants to be GaGa?

DAVID McGRIEVEY said...

Thanks for the cool breeze, it has been 105 degrees here in Manhattan.
I am not quite sure what point you are trying to make about Lady Gaga and the economy.
I do know she makes every awkward kid feel good about themselves.
If it makes her billions while doing so, so be it.
I do know that I would want you at my memorial service to lend an air of glamor, you look great.
X David

Laguna Beach Trad said...

That's a very good piece you linked to. But I think there's more at work here.

With a tanking economy, government take-over of the productive sector, the prospect of higher taxes, failing wars in Iraq and Afghanistan and the threat of a new one in Iran (thanks to Israel), and a looming battle over immigration invasion, Lady Gaga is just one big diversion.

Just like this LeRoy James controversy this week, about which practically everyone in this region was talking in the office, in the elevator, in the streets, on tv, in restaurants and bars, etc.

Who gives a f*ck about Lady Gaga and LeRoy James? Why should we?

The American people are so, so owned.

Kimmy said...

Hello Belle,
I agree with you on the Lady GaGa topic-she holds not a shred of fascination for me either.
I think she is just that..a distraction for the moment, hopefully.
Have a cool, cultured day Belle, cheers!

David Toms said...

Ok, I have to confess, I do like her, but don't tell anyone! Picture perfect weekend her in Toronto with temps! Thanks

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