Problem
The first article for DG came from the New Yorker. It introduces the Utility concept, a measure of the value a product creates for the consumer. It also explores another concept that we discuss in the course regarding government intervention in the economy through granting patents and copyrights to encourage innovation. Both ideas are dealt with here in a more complex, nuanced fashion than we cover them in the course. The second article, from the New York Times, provides information on a current initiative to deal with this topic. What is your reaction to this complexity? Do the articles help you better understand the rich possibilities of economic analysis? Do you agree with the conclusions? Would your opinion change if you were a fashion designer? If so, why? Does the author's reference to aspirational utility resonate with you? Do you aspire to wear designer fashions and not much cheaper imitations (the only limit being current income or lack thereof)? Remember these questions are intended to be discussion starters.
Article: The Financila Page- The Piracy Paradox.