Economic Perspective on Fantastic Beasts and Where to Find Them

Fantastic Beasts and Where to Find Them is a 2016 British-American fantasy film directed by David Yates, distributed by Warner Brothers Pictures, and produced and written by J.K. Rowling. The movie takes place in 1926, where Newt Scamander – a magizoologist – arrived in New York to release a Thunderbird back to its original habitat, Arizona. However when running into a no-mag, or muggle, Scamander loses his case full of magical creatures and several of them escape. In addition to the loss of Scamander’s magical case, The Magical Congress of the United States is losing a fight against the no-maj’s who believe that wizardry is sinful and that all witches and wizards must be killed due to the multiple catastrophic events where an entity or beast is wreaking havoc in New York. In the end Gellert Grindelwald, a wizard nationalist turned terrorist, is revealed and captured by Scamander and MACUSA to have pretended to be Percival Graves – an Auror, Director of Magical Security, and head of MACUSA’s Department of Magical Law Enforcement – and was attempting to take advantage of and use a powerful Obscurial named Credence Barebone who did not even know he was associated with magic, as a weapon for terrorism.

Throughout the film, though not heavily emphasized or focused on, there were goods and services being consumed: the New York Bank where the no-maj Kowalski went to for a loan to open a bakery, the material the Barebones needed to spread the evil of witchcraft, and the treasure that the Niffler – one of Scamander’s magical creatures – took wherever he went. Although CPI is not really mentioned or shown throughout the film, there are obvious problems of CPI that arise; where Kowalski is shown to need to consume goods/services that are more inferior in comparison to others due to the rise in CPI that cause people to buy less than before and cause problems like substitution bias – where he buys furniture of less quality, introduction of new goods/services – where the Niffler gets whatever new goods/services that now have decreased in value, and unmeasured quality changes.

What other concepts does the movie portray? Do you believe there are other ideas of economics in the movie?

What do you think?

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