Monopoly is a game made familiar to many of us as children; and, as a game of property and trade, it is natural to consider what economic lessons it might teach. It is fairly evident that the objective of the game - to own all property on the board by raising rents on captive, choiceless consumers - does not represent any sort of market economy. This has been well-documented elsewhere, and for a more complete discussion of the economic faults of the game, I would direct you to those sources.
However, this is not to say that there are no elements of the game that can teach us valid economic lessons, whether directly or indirectly. Economists should not disregard these lessons simply because the broader game economy is unrealistic or does not align with their views. Here are a few things Monopoly can teach us.
However, this is not to say that there are no elements of the game that can teach us valid economic lessons, whether directly or indirectly. Economists should not disregard these lessons simply because the broader game economy is unrealistic or does not align with their views. Here are a few things Monopoly can teach us.
