It’s Christmas! Endless barrels of egg nog, vast sums of wrapping paper and constant replays of the famous James Stewart/Frank Capra classic motion picture “It’s a Wonderful Life.”
Although most people wouldn’t even think of economics when viewing this tear-inducing film, the good fellows at EconStories have published a new video “The Economics of It’s a Wonderful Life,” in which the host, Andrew Heaton, discusses the importance of banks and how many of the characters in the film have personally benefitted from these financial institutions.
Capra, who remains one of the greatest Hollywood directors of all time, usually vilified banks as well as governments (he understood the cronyist nature). However, according to the latest video, Capra perhaps didn’t understand the importance of banks when it comes to providing loans to entrepreneurs and potential homebuyers.
Whatever the case, if you haven’t seen the picture then you’ll likely to shed a few tears by the end of it all.
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