Economics of the Undead: Zombies, Vampires, and the Dismal Science

Whether preparing us for economic recovery after the zombie apocalypse, analyzing vampire investment strategies, or illuminating the market forces that affect vampire-human romances, Economics of the Undead: Zombies, Vampires, and the Dismal Science gives both seasoned economists and layman readers something to sink their teeth into. Undead characters have terrified popular audiences for centuries, but when analyzed closely, their behaviors and stories—however farfetched—mirror our own in surprising ways. The essays collected in this book are as humorous as they are thoughtful, as culturally relevant as they are economically sound, and provide an accessible link between a popular culture phenomenon and the key concepts necessary to building one’s understanding of economic systems big and small. It is the first book to apply and combine economics and our society’s fascination with the undead, and is an invaluable resource for those looking to learn economic fundamentals in a fun and innovative way. Contributions by: Kyle William Bishop, Eleanor Brown, Ian Chadd, Darwynn Deyo, Steven Horwitz, Daniel Farhat, Jean-Baptiste Fleury, Enrique Guerra-Pujol, Brian Hollar, Sebastien Lecou, Joseph Mandarino, Alain Marciano, Fabien Medvecky, David T. Mitchell, Michael O’Hara, M. Christine Phillips, A. Lynn Phillips, G. Michael Phillips, Lorna Piatti-Farnell, Robert Prga, Hollis Robbins, Sarah Skwire, Ilya Somin, David Tufte, Mary Jo Tufte, and Charlotte Weil

Table of Contents:
Introduction: Living Dead and the Modern Economy by Glen Whitman and James Dow Part I: Soulless Mates Human Girls and Vampire Boys, Part 1: Looking for Mr. Goodbite, by Glen Whitman Human Girls and Vampire Boys, Part 2: ’Til Death Do Us Part, by Glen Whitman Part II: Apocalyptonomics Packing for the Zombie Apocalypse, by James Dow Eating Brains and Breaking Windows, by Steven Horwitz and Sarah Skwire To Truck, Barter… And Eat Your Brains!!!: Pursuing Prosperity in a Post-Productive World, by Brian Hollar What Happens Next?: Endgames of a Zombie Apocalypse, by Kyle William Bishop, David Tufte, and Mary Jo Tufte Order, Coordination, and Collective Action among the Undead, by Jean-Baptiste Fleury and Alain Marciano Part III: Blood Money Investing Secrets of the Undead, by James Dow Zombification Insurance, by Eleanor Brown and Robert Prag Monsters of Capital: Vampires, Zombies, and Consumerism, by Lorna Piatti-Farnell Trading with the Undead: A Study in Specialization and Comparative Advantage, by Darwyyn Deyo and David T. Mitchell Buy or Bite?, by Enrique Guerra-Pujol To Shoot or to Stake, That Is the Question: The Market for Anti-Vampire Weapons, by Charlotte Weil and Sébastien Lecou Taxation of the Undead: Non-Sentient Entities, by Joseph Mandarino Part IV: The Dead Body Politic Tragedy of the Blood Commons: The Case for Privatizing the Humans, by Glen Whitman Zombies as an Invasive Species, by Michael E. O'Hara What Would the Reasonable Man Do in a World Gone Mad?, by Brian Hollar Brain-Dead vs. Undead: Public Ignorance and the Political Economy of Responses to Vampires and Zombies, by Ilya Somin Sinking Our Teeth into Public Policy Economics: A Taste of Immortality, by Fabien Medvecky Where Oh Where Have the Vampires Gone? An Extension of the Tiebout Hypothesis to the Undead, by A.L. Phillips, M.C. Phillips, and G.M. Phillips Part V: Brain Food The Economics of Bloodlust, by Ian Chadd Between Gods and Monsters: Reason, Instinct, and the Artificial Vampire, by Daniel Farhat Killing Time: Dracula and Social Discoordination, by Hollis Robbins Pop Culture Bibliography Notes Index Contributor Biographies

About the Author :
Dr. Glen Whitman and Dr. James Dow are both professors of economics at California State University, Northridge. Whitman is also the author of Strange Brew: Alcohol and Government Monopoly.

Review :
Whitman and Dow, both professors of economics at California State University, Northridge, gather 23 essays that explore the centrality of economic issues to today’s popular vampire and zombie novels and films. Whitman uses vampire romance to explain marriage markets, suggesting, among other things, that undead love tales shed light on the sunk cost fallacy. Dow takes the characteristic wealth of vampires (they do have to finance a very long retirement) as an excuse to talk about compound interest. Other essays connect the zombie apocalypse with Adam Smith (how will postapocalypse survivors 'return to their prior level of prosperity'?), True Blood to privatization, zombie invasion to problems like the spread of feral hogs in the U.S., and the residential and geographic choices of the undead to the Tiebout Hypothesis. More insightfully, contributor Lorna Piatti-Farnell notices the way Gothic language pervades Marx’s writings about capitalism. This frothy foray into Econ 101 might seduce freshman to the dismal science. Economics of the Undead, edited by Glen Whitman and James Dow . . . is the perfect blend of smart and pop culture. On the one hand, it is a deep collection of studies and economic thought, referencing Adam Smith and Charles M. Tiebout, who defined the theory on local community. On the other, it is jammed with examples from Buffy the Vampire Slayer to Dawn of the Dead (any and all versions). . . .Economics of the Undead goes in a wide variety of directions, giving something for anyone who wants to ponder the impact of the dead-alive. Perhaps the best aspect of Economics of the Undead is that it links what is so often considered an escapist genre to the real world. As outlined above, many of the theories that are applied to the undead figures also have practical economic, social, and political applications. . . .Whitman, Dow, et al have certainly made a convincing argument for the relevance of undead workings in the field of economics. Recognising that a vampire can be persuaded to trade with the living rather than stealing their blood; having a sense of security under the terms of comprehensive zombification insurance; appreciating the fact that this dazzling creature in front of you might just be your new Tinder date — the volume encourages us to ponder these scenarios and more. Economics of the Undead: Zombies, Vampires and theDismal Science permits the reader to rest easy in the knowledge that their next graveyard encounter with the supernatural will be decidedly less one-sided. These are serious people taking on serious topics…That’s worth thinking about, isn’t it? For too long, economics has been lagging behind the other social sciences in explaining the political economy of the undead. With this volume, Whitman and Dow take a lurching step forward in closing the gap. Those who are looking to get their finances in order for the coming Zombie apocalypse should definitely buy this book. But so should anyone else who is interested in how the worlds of zombie and vampire movies would really work--or for that matter, anyone who is interested in having complex economic topics lucidly and entertainingly explained. Whether you are a professional economist, a Buffy fan, or a vampire, you will learn something new and interesting in every chapter.