Be careful, there will be spoilers. Mary Poppins (1964) is one of the films about economics most complete in the history of cinema and its viewing should be part of any core subject of the subject.
It is difficult to deal with so many economic ideas in such depth and in such a short time, with the quality and affection with which it is done during its 2 hours and 19 minutes of footage. With the economic and care crisis we are in, placing the person at the center of the economy is more necessary than ever, which makes this film totally topical.
At that time, many of the economic concepts that we are going to describe were not even the subject of study. This is the case of behavioral economics (behavioral finance) wave gamification. Therefore, in addition to being a film ahead of its time, it has prophetic elements, such as the end of the musical number in which the bank executives sing: “If the Bank of England resists, England will resist, but if the Bank of England falls, England will fall.” This, almost 30 years before George Soros expelled sterling from the European Exchange Mechanism, in 1992.
Social ladder in Mary Poppins
The film constantly plays with contrasts. It begins with Bert the chimney sweep singing “people know that this profession is servile, but it gives them lustre” and then shows us its opposite: an upper-class Victorian family, with a surname that is a clear declaration of intentions. Banksbanks in English.
From the beginning, the enormous social inequality of the time is the protagonist and, in any of the cases that are presented, work and professionalism are valued, whether banker, nanny or chimney sweep, among the different professions that appear. throughout the movie.
Labor relations are analyzed in detail. Mr. Banks is looking for a babysitter and almost goes so far as to place an ad in the newspaper, conduct an interview and end up hiring Mary. Subsequently, the new employee is reprimanded by her employer. Mr. Banks, who dreams of a promotion, is finally fired and the consequences of that dismissal can be seen both on the person and on the family. Depression, abuse of authority or despotism are exposed and thoroughly dissected, always with humor and sensitivity. A really complicated exercise.
Once labor law has been presented, we proceed to analyze the essence of work. Work generates life and constitutes an end in itself. Can we consider Mary Poppins a Marxist? If we consider in the analysis the prominence that the chimney sweep and her property have, compared to those of the Banks family, the answer is probably affirmative.
Play and behavior
When giving game instructions starting right saves work, Mary Poppins presents the following idea: in every work or occupation there is an element of fun, that element is sought and work is a game! In 2002, game designer Nick Pelling began talking about gamification (from the English term games) and, thus, modern economics begins to approach the doctrine of Mary Poppins.
Beyond gamification, the phrase “with a little sugar, that pill they give you will pass better” is a perfect example of nudge theory (Nudge Theory). The pushes They are a way to influence people's behavior without coercion or prohibitions, using positive reinforcements. It is a part of behavioral economics or behavioral economics (behavioral finance) for which Richard Thaler's work received the Nobel Prize in Economics in 2017. Can you learn economics and enjoy it at the same time? What incentives does a society need to transform? Was Mary Poppins a behavioral economist?
Mary Poppins certainly led by example, teaching the young Banks brothers to fish, instead of giving them fish.
banking panic
Another important part of the film is the anthological description of the banking system. The song Fidelity Fiduciary Bank It perfectly describes how “if at two pence you know a good job, you will want more and in the bank the capital always increases.”
Another good example is the name of the bank itself: Dawes, Tomes, Mousely and Grubbs, Savings, Credit and Security Bank, demonstrating how, the longer and more complex the name of the product, the more likely it is to catch the unwary.
Remember the 2008 financial crisis? I encourage you to listen to the entire song: financial instruments (bonds and shares), large investment projects and several other winks appear. Although the best is yet to come: right after that song occurs what is probably the best description of a banking panic ever made in cinema. Shouting “My penny, they took my penny!”, little Michael creates a monstrous butterfly effect that ends with a bank playpen. Spectacular.
to see again
Throughout the film there is more, much more. The contrast between the life of Bert, without resources but always happy, and the bitter Mr. Banks; the constant game with expectations, intrinsic value (Bert comments wryly: “You shouldn't waste your precious time on that nonsense: taking the children out is of no use”) or Mrs. Banks' suffrage struggle are examples. The importance of childhood, poverty or responsible parenthood are other elements that are constantly on the scene.
It is difficult to tell so much and so well in just over two hours.
Luis Garvía Vega, Director of the Master's Degree in Financial Risk Management (MUGRF) at ICADE Business School, Comillas Pontifical University
This article was originally published on The Conversation. Read the original.