Skip to content
1st Class Economics1st Class Economics
1st Class Economics
We Build the Future
  • Home
  • University Essays
    • Macro
    • Micro
    • Development
    • Econometrics
  • Revision
    • A-Level & High-School Resources
    • Definitions & Key Concepts
    • Free Model Essays
    • Economic Schools of Thought
    • Famous Economists
    • Case Studies: Financial Crises
  • Micro-Mania
    • Blog
    • Economics Jokes
    • Epic Government Failures
    • X-Files: Economics Edition
    • Fun Economics Videos
    • Economics Conspiracy Theories
    • Movie and Video Game Fan Theories
  • About
    • About Us
    • Why Us
    • Paperback vs. eBook
    • Contact Us
FacebookTwitterGoogle+
 
  • Home
  • University Essays
    • Macro
    • Micro
    • Development
    • Econometrics
  • Revision
    • A-Level & High-School Resources
    • Definitions & Key Concepts
    • Free Model Essays
    • Economic Schools of Thought
    • Famous Economists
    • Case Studies: Financial Crises
  • Micro-Mania
    • Blog
    • Economics Jokes
    • Epic Government Failures
    • X-Files: Economics Edition
    • Fun Economics Videos
    • Economics Conspiracy Theories
    • Movie and Video Game Fan Theories
  • About
    • About Us
    • Why Us
    • Paperback vs. eBook
    • Contact Us

Ghostbusters & Reagononics

Jul242017

The 1984 movie Ghostbusters isn’t just about ghosts, the iconic Ecto 1 and Dr Venkman chasing after women, it’s also a testament to Reagononics and the republican economic policies which helped put the US economy back on track following a shaky start to the 1980s. The main underlying theme of the Ghostbusters is the magic of the free market and the power of the US private sector.

As Ray Stantz told Peter Venkman when they were contemplating their futures after being fired: “Personally, I liked the university. They gave us money and facilities, we didn’t have to produce anything! You’ve never been out of college! You don’t know what it’s like out there! I’ve worked in the private sector. They expect results.”

When the Ghostbusters opened in June 1984, Reagan’s re-election into his second term as president hadn’t happened. However, the ideology that is Reagononics was just beginning as the government were cutting taxes and reducing spending on social programs. The anti-government rhetoric was gaining momentum.




And the movie itself is full of references to the economic policies of the Reaganomics era. For example, risky lending from banks, who were increasingly loosely regulated under Reagan’s government, helped boost consumer spending and economic growth … bad banking practises like these also helped cause the savings and loan collapse. Ghostbusters pays homage to this in the scene where the paranormal investigators acquire funding for their business venture as a result of some questionable underwriting by Manhattan City Bank.

As the scientists exited the bank, Venkman said: “You’re never gonna regret this, Ray.”

Stantz, clearly perturbed, responded: “My parents left me that house, I was born there.”

Venkman: “You’re not going to lose the house. Everybody has 3 mortgages these days.”

Stantz snapped back: “But at 19% interest! You didn’t even bargain with the guy.”

Spengler, whilst calculating, interjects: “Ray, for your information, the interest rate [payments] alone for the first 5 years comes to $95,000.”

Venkman, Spengler and Stantz then identify a gap in the market for paranormal investigations and eliminations and use all of their entrepreneurial ability to enter that market and turn a profit.

Reagan’s government also spurred economic growth by ploughing their green dollars into the military. This is touched upon in the Ghostbusters scene where Dr Venkman and co get an uneccesay but bad-ass looking military escort during the drive to the skyscraper where they have their final confrontation with Gozer.




Reaganomics itself wasn’t what the American public supported though, it was the anti-federal government rhetoric. Mirroring this, the real villain in Ghostbusters isn’t Gozer the Gozerian, it’s Walter Peck, a bureaucrat from the Environmental Protection Agency. And just like the US government does to the private sector whenever they become too meddling, Walter Peck unleashes hell on New York when he cuts the power to the Ghostbsuters’ spectral containment unit in their basement. And it’s the private sector that saves the day when the Ghostbusters blow-up the Stay Puft Mashmallow Man.

Share this post

Related Posts

Fan Theory: Sonic the Hedgehog – Michael Jackson Wrote the 3rd Game’s Musical Score
January 1, 2018
Correlation & Causality
December 25, 2017
What is Economics?
December 18, 2017
The Big Mac Index
December 11, 2017
Fan Theory: Super Mario – Making Sense of the Mythos
December 4, 2017
Fan Theory: Super Mario – Bowser Dies & Becomes King Boo
November 27, 2017
Popular Blog Posts
  • X-Files: The Economics of Bigfoot
    February 15, 2017
  • Mankiw’s Ten Principles of Economics, Translated – by Yoram Bauman
    April 20, 2017
  • Conspiracy Theory: The Titanic was Sunk to Form the Federal Reserve
    March 15, 2017
  • Why Plastic Bags are Not Bad for the Environment
    December 14, 2016
1st Class Economics
© 2017 1st Class Economics. All rights reserved.
  • Home
  • University Essays
    • Macro
    • Micro
    • Development
    • Econometrics
  • Revision
    • A-Level & High-School Resources
    • Definitions & Key Concepts
    • Free Model Essays
    • Economic Schools of Thought
    • Famous Economists
    • Case Studies: Financial Crises
  • Micro-Mania
    • Blog
    • Economics Jokes
    • Epic Government Failures
    • X-Files: Economics Edition
    • Fun Economics Videos
    • Economics Conspiracy Theories
    • Movie and Video Game Fan Theories
  • About
    • About Us
    • Why Us
    • Paperback vs. eBook
    • Contact Us
Menu
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.Accept Reject Read More
Privacy & Cookies Policy

Necessary Always Enabled