Spoiler Alert: These essays are ideally to be read after viewing the respective films.
Showing posts with label economics in film. Show all posts
Showing posts with label economics in film. Show all posts

Thursday, June 25, 2026

Enzo

In 2025, when the film, Enzo, was released, Russia’s ongoing invasion of Ukraine was still in progress before being overshadowed in the media by fresh American and Israeli military attacks in Iran. The film distinguishes the respective attitudes of two Ukrainian construction workers in the E.U. state of France regarding whether to return to Ukraine to join the army. This contrast implies that patriotism, and, moreover, duty, is a weak force in human nature, even when a citizen’s country is in serious, existential trouble in being invaded by an empire-scale military aggressor.

In the film, the Ukrainians’ dilemma is overshadowed by the salient class distinction between Enzo’s upper middle-class family and a vocation of manual labor, including construction work. Enzo’s father, Paolo, may even take Enzo’s desire to continue as a construction-apprentice as a personal betrayal. Even though Enzo is only 16 years-old, he is able to “hit” back during a family dinner at home by characterizing his father’s academic profession as utterly fake (for what use is “book” knowledge?), especially relative to construction because, Enzo says, walls continue to stand even when the human beings who dwell within them have died. That Enzo’s own natural proclivity to draw would, as a profession, which Paulo is urging Enzo to adopt, be one of manual labor goes unsaid in the film. By implication nonetheless, the intricate use of fingers is of higher social class than the sore, blunt use of hands. To be sure, getting rich by selling art is heard of, whereas how many construction workers get rich by overlaying brick and mortar?

Enzo is, as a typical teenager, lost, and therefore needs time to find himself. His crush on Vlad, one of the Ukrainian construction workers, attests to the boy’s jejune state. Even his claim at the end of the film, on the phone to Vlad who has called in the midst of a battle in Ukraine, of having “fallen in love” with Vlad cannot be taken seriously. The film’s political and economic ethical elements are so salient that Enzo cannot be labeled as gay cinema.

Even though the ethic of socio-economic class is more salient than is the political leitmotif, the stark contrast in an early conversation between Miroslav and Vlad, the two Ukrainian guest-workers in the E.U., is riveting and thus worthy of notice and elaboration. Whereas Miroslav strongly feels a sense of duty to return to Ukraine to take up arms against the Russian invaders because “I might not have a country to come back to,” Vlad recognizes no such duty. Of course, the Ukrainian government is not going to forcibly grab Vlad and return him to his native country, and Vlad undoubtedly knows this, so his disavowal of a basic duty in citizenship can stand. Both men know that Miroslav’s intent to return to Ukraine is entirely voluntary, and it is precisely in this regard that duty can be understood as being a weak force in human nature. For all that deontologically-oriented ethicists make a big deal out of duty per se (e.g., Kant), the force, like gravity, is actually weak. The fullness of emotion that people in the rapture of fulfilling a duty belies the fact that duty must be willed, and slavish attachment to momentary pleasure is actually a stronger force as an instinctual urge.

So it is interesting, as well as perplexing, that both of the Ukrainians tell their construction boss that they would be returning to Ukraine (implication: to fight) in two weeks without anything in the screenplay as to how or why Vlad changed his mind. The oversight, or leap, can be construed as an understatement concerning how much mental effort is involved in a change of will. It is not as if Vlad suddenly grew an internal sense of duty. Presumably Miroslav had said something that convinced Vlad to return to fight. It is precisely because duty is so voluntary, unless mandated by a government at gun-point or threat of imprisonment, that Miroslav’s rationale is so crucial to Miroslav’s change of heart—or is the rationale more practical in appealing to Vlad’s self-interest? In not furnishing an answer, the film falls short in terms of political theory, whereas the socio-economic ethical tension is more fully depicted and resolved as Enzo capitulates to his parents’ world after having tried to commit suicide at the construction site, for going to New York to learn English can be construed as being on track to eventually joining his parents’ echelon vocationally, even as an international artist whose art sales could benefit from connections made in New York. Such a world is miles way from that of a construction worker. 

In contrast, Vlad being scared to death by bombs exploding nearby in Ukraine—how he got to that point—is unexplained and thus unaccounted for. Next to such fear, and even the anticipation of such fear, the emotive sense of duty is weak. Even in Hobbes’ Leviathan, the instinct for self-preservation can legitimately be acted upon even against a sovereign power. Whether a “right” or not, self-preservation is an inalienable feature of human nature even after an alleged social-contract by a group of people to give up power (even to interpret scripture!) to a sovereign power, whether a king or legislative assembly.  

Sunday, March 1, 2026

My Man Godfrey

If there is a time and context that shows dramatically how stark economic inequality can be, the years immediately following the Wall Street crash of 1929 cannot be beat. Wealthy men in the financial sector saw their wealth disappear overnight; the sudden move to the street from comfortable housing doubtless triggered many suicides. The 1936 film, My Man Godfrey, demonstrates the mental and reputational depravity of even once-wealthy investors (and stock brokers) relative to the still-rich, who look down with disdain such men as if they were no longer human beings. The stark change in the economic-determined normative stance is artificial and yet in terms of getting a job, it was very real.  In the film, Godfrey maintains good graces in using his low status even in the employment of a rich family as an opportunity to practice humility. He even saves the family, financially, and marries one of the daughters. Godfrey, she knows, is her man even in spite of his lowly station.

When the film opens, Godfrey is living at a city dump in a shanty-town. Before long, he is able to get himself hired as a butler because he had been willing to be the butt of a joke for five dollars. As if such treatment by the family were not bad enough, insults continue even as he is serving as the butler very well, and with the epitome of politeness. One of the daughters even tries to frame him so her father would terminate Godfrey’s employment. Faced with returning to the slum at the dump, Godfrey has a lot riding on avoiding being framed, which he does. He even maintains his politically-astute politeness to everyone in the family even so. It is as if he were a fiddler on a roof—poised in a way that he could fall at any moment.

Such precariousness being a function of economics is hardly novel, even if it is much more difficult to justify in a modern state that is capable of seeing to it that the poorest of the poor do not perish simply for lack of economic wherewithal. Even though Godfrey went to Harvard and is proficient enough to short the stock of the company in which Alexander Bullock, the head of the family, is too heavily invested, he could find himself, if fired, having to return to the city dump. That anyone would realistically fear having to live on the street is psychologically so ruinous that it could be said that any society without a safety-net capable of preempting such an existential fear could be considered not adequately civilized in the modern sense of the word.

In spite of my high educational pedigree, I have known such fear and have even experienced it being actualized in my case. I have witnessed the abject failure of even the spotty “safety-nets” of the U.S. member-states, including being the butt of passive-aggressive ethical lapses by employees in “social services” and even the medical profession. The fear being actualized can indeed have medical repercussions, especially for someone like Godfrey, who went to Harvard and worked in finance. I know Godfrey’s fear, and, intellectually, I understand furthermore that the existential fear of running out of money without a governmental safety-net to prolong life extends to every American whether one is conscious of it or not, and whether one is rich or poor. Even though this existential fear subtly saps “quality of life” throughout a person’s adult years, few Americans realize it and the enervating toll it takes on a person psychologically.

Underlying the insufficient safety-net in the American states, especially relative to the E.U. states, is the tolerance for having so much hinge on employment. For example, private health-insurance is typically contingent on remaining employed, as if the unemployed are necessarily healthy and thus do not need health insurance. The pegging of insurance to a job can be viewed as dogmatic in the sense of being arbitrary, for the need for health-care does not have anything to do with whether a person has a job or not. Yet so many Americans seem to take the artificial link for granted. In the film, Godfrey insightfully laments, “I discovered that the only difference between a derelict and a man is a job.” Behind the public policies that hinge so much in terms of sustenance to whether a person is employed is the pejorative normative stance that an unemployed person is tantamount to being sub-human. In the film, the family’s insults lobbed at Godfrey even though he is employed suggest just how low an unemployed person is in the eyes of the rich; not even being a very polite and effective butler can completely remove the taint of having lived at a dump in order just to survive.

Context can ensconce and even perpetuate the stark economic divide that takes advantage of the normative negative connotations of being unemployed (i.e., a derelict). In the film, Godfrey points out the extreme inequality in there being luxury apartments even as the unemployed starve. Even though the former may seem to evinced a civilized society, it is actually the tremendous economic and psychological distance between the two poles that undermine any claims that a society is civilized. Godfrey attended Harvard, a university that seems to be the epitome of civilized society (i.e., of learning), but that he had no other choice after the Wall Street crash but live at a dump belies such claims of civilization. The irony is that Godfrey personifies civilization by being polite to the family and even saving it financially with help from his old Harvard classmate even though he has sufficient reason to harbor inner resentment of the rude family and the cruel society that is fine with unemployed people living on the street to survive. Perhaps Godfrey’s financial help, amazingly out of gratitude to the family for having hired him and thus saved him from the dump, can be turned around as the question: why isn’t the enormous wealth of a society willing help the poorest of the poor who must live in a Hobbesian state of nature? On such a question civilization itself hinges.

Sunday, December 3, 2023

Wall Street

Oliver Stone’s film, Wall Street (1987) was filmed in the midst of U.S. President Reagan’s push for financial deregulation. As a MBA student at the time, I volunteered to help a professor with his paper on financial deregulation. The theory behind why the NASD (the National Association of Securities Dealers) could self-regulate its members seemed solid enough to this idealistic youngster (i.e., me); I had yet to witness human nature in the field, and over decades. Similar to Marx overlooking the human need for economic compensation as an incentive to work on a daily basis (though I overlook it too in posting free essays online), I was blind to human nature in that I did not see that the NASD itself would protect even its most sordid members so to safeguard the reputation of the profession and, even more realistically, stick up for other “members” of the “club.” The Newtonian-like automatic mechanism whereby industry self-regulation would work was too beautiful to let human nature interfere. Similarly, when I worked in public accounting, I saw the “check mark” indicating that, “as per comptroller, discrepancy resolved,” was just one of several technical points in conducting an audit. The illusion of technique as somehow objective in the business world can shield practitioners from the ethical content. In case you’re wondering how this relates to Oliver Stone’s Wall Street, the antagonist Gordon Gekko is the poster child for greed, and thus the reason why the public should not rely on industry self-regulation to police Wall Street. Bud Fox goes headlong into being Gekko’s insider-trading protégé, easily ignoring conscience personified by Lou Mannheim even though he and Bud work in the same brokerage office. In Freudian terms, the id easily defeats the superego. It’s not even a close fight.

This is precisely why externally-imposed (i.e., free of the influence of the political contributions made by Wall Street firms) government regulation is necessary in a Capitalist economic system. Even Adam Smith recognized such a need, and thus that his theory of moral sentiments would not be sufficient. Greed can destroy persons and even entire economies. Wall Street’s greed for the very profitable unregulated sub-prime mortgage-bonds (and the insurance policies on those financial derivative securities), for instance, led to the financial crisis of 2008. The Clinton administration had fought to keep those instruments unregulated. Even after the crisis, Wall Street refused to accept blame. Even after the fact, conscience was easily dismissable.

In the film, Bud Fox’s conscience, as represented by Lou, tells him that there are no short-cuts. Bud dismisses Lou’s wisdom culled from at least 20 years of experience. Bud’s position is that he can good later; got to get the wealth first though—as if doing good depends on being wealthy—but Lou is not referring to philanthropy after retirement from working on Wall Street. Later in the story, Lou senses that Bud has been cutting corners ethically and perhaps even legally and tells the young enterprising man that money makes a person “do things you don’t want to do.” Bud wants to profit off insider info about his dad’s company, however, in order to snag the big fish, Gordon Gekko.

Carl Fox, Bud’s working-class father, tells his son, “Stop going for the easy buck.” But Carl is going after Bud’s industry and thus misses an opportunity to counsel his son on his tactics. To Carl, financial brokerage itself is problematic in that it does not produce anything. He contrasts brokers with lawyers, but both mediate parties who make things. To Carl, GNP is constituted by goods—not services. This is interesting because as an airline mechanic, Carl must know that oil is important to keeping an engine going, and thus things to be produced.

In the 1980s in the U.S. at least, finance was king and business schools were booming. I must admit that I got sucked into that vortex, quite unaware of what was happening in higher education, for I did not even realize that I was reducing education to vocation in the process. In a MBA course, I read what Robert Reich wrote about the American economy increasingly comprised of paper entrepreneurism. Manufacturing had been a casualty in the recession of 1981. During that recession, my hometown lost practically all of its machine-tool industry to Europe and unemployment stood at 21 percent. Gekko’s view of wealth as a zero-sum game fit with the empirical reality of companies moving their factories abroad to capitalize on cheaper labor markets and less onerous regulations. Gekko could have written speeches for Ronald Reagan’s presidential campaign. “America’s a second-rate power,” Gekko says at one point. The federal government is a “malfunctioning corporation” rather than a functioning democracy. The trade and budget deficits were just two indications that the government was in a pathetic way. Pro-business Reagan would hardly have agreed with Gekko’s negative view of corporate America, however.

In too many corporations, Gekko explains at a stockholder meeting, it’s a case of survival of the unfittest. Stockholders have ceded control to non-owner managers, who are after all really just bureaucrats. As a result, too many companies have become bloated. Referring to the company’s management sitting on the stage, Gekko complains that the company has 33 vice presidents. Gekko’s claim to be a liberator of companies has some merit. In breaking up badly run, overextended companies, hostile takeovers cut the fat and move the evolution of American Capitalism in the direction of greater efficiency and effectiveness. What about Bud’s father, Carl, who would lose his longstanding job were Gekko buy another company, Bluestar Airlines, and sell it for parts? Performing radical deconstructive surgery on the U.S. economy involves people’s livelihoods.

Carl has Gekko’s number. This is very clear. “He’s using you,” Carl says to his son. Carl knows that Gekko is lying about intending to keep the airline running. Bud dismisses his dad’s intuition. It does not help that Gekko has become a surrogate father and that Carl is at least in part jealous of Gekko, even apart from Gekko’s wealth. It is important to know that Bud has not gained a second father, for Gekko is not loyal to other people, and certainly not to a young salesman. Gekko lies to Bud about intending to keep the airline together and let Bud run it. That he actually thinks he could run a business merely because he has some experience executing trades shows just how delusional greed can be. Carl provides a reality-test here when he points out to his son that brokerage does not give a person experience tantamount to being able to manage a large business. Blinded by Gekko’s statement, “I’m going to make you rich,” Bud thinks he can do anything. Both Bud and Gekko are in fact greedy and consequently neither man pays any heed to insider-trading law or financial ethics. The S.E.C. is presumably on holiday.

Such is the delusion that can come from greed, the desire for more. This desire is treated as an end in itself. That is to say, that desire is assigned absolute value. God is knocked out of its perch, and relationships go by the wayside. The root is self-love, wherein the self is situated as the center and end of all; truth is a function of subjectivity.

“Greed is good,” Gekko states at the stockholder meeting. Greed works; it clarifies, which I assume means that it puts priorities in order. This goes for “love, life, and money.” Not surprisingly, Gekko admits to Bud’s fake girlfriend, Darien, with whom Gekko has been secretly sleeping with, that he has tried to avoid love. Presumably it gets in the way of his first priority, money. Lest it be concluded, however, that Gekko is the Devil incarnate, we get a glimpse of Gekko appreciating the beauty of the ocean while walking on the beach on Long Island. Even a greedy person is a human being. Even so,  greed eviscerates relationships, especially in a commercial context for there is no loyalty on which business relationships can be built, for the quick buck is all that matters.

Once when I was going to extend my hotel stay at a Merriott hotel, I asked that my rate be continued. The hotel manager refused, saying that hotels are like airlines so the rate is whatever is currently available online, given whatever supply and demand happen to be at the moment. This is in line with the hotel maximizing revenue on a nightly basis. The narrow fixation and the absolute priority on revenue cut off a business relationship from developing. Because hotels differ from airlines in that flights end whereas hotel stays can be extended, I knew that the company’s technocrats had adopted a flawed, ill-fitting model. I did not extend my stay at that hotel; rather, I went to another hotel, and, once checked-in there, I put the Merriott “loyalty" program card, which a front desk employee at the previous hotel had given me, in a trash can. One-sided loyalty is an oxymoron. To be sure, the Merriott company got some revenue from me, but the company stumbled over itself in that it lost much more (without knowing about the future lost business). Any marketing ploy that refers to hotel customers as “guests” is disingenuous because the “hospitality” industry, at least in the U.S., practices such radical conditionality in customer relations. From my observations and reactions to managers at that Merriott hotel, I could sense just how inimical greed is to human relationships in a commercial context.

In general, greed cannot tolerate the ongoing bonds that sustain human relationships, whether business or personal, if those bonds constrict a gain that could otherwise be snagged. Greed’s interests are immediate because the desire for more cannot refuse even a momentary gain even if it means diminishing or losing a long-term arrangement. Even a person’s or company’s reputation is no constraint if there is an easy gain to be had. This does not mean that greed eschews long-term investments and even business relationships that are advantageous (e.g., a discount for frequent business). It’s just that greed cannot be relied upon by counterparties to stay on course should conditions change. Like a cheating spouse, greed won’t let a vow get in the way of instant gratification.

In the film, it is not surprising that Gekko has been cheating on his wife by having sex with Darien. Even business relationships are difficult if greed is all that matters. Larry Wildman, who is trying to buy a steel manufacturer so to improve it rather than break it up (whereas Gekko would break it up), calls Gekko a “two-bit pirate and a blackmailer” who would sell out his own mother. Presumably no one on the street is going to go into a deal with Gekko because he can’t be trusted beyond what is in his immediate financial interest.

Therefore, greed is shortsighted not only in wrecking the finer things in life, such as love, but also in terms of business relationships and even in terms of maximizing wealth in a time horizon beyond immediacy.  Rarely does a person enthralled with greed look into the abyss and find his character. This, Lou tells Bud just before he is arrested at the brokerage office, is what keeps a person out of the abyss. A narrow, “pinhead” mentality is the natural funnel that forms when a person allows the desire for more (i.e., greed) to encompass one’s experience and even existence. Sartre claims that a person’s existence precedes one’s essence. The danger in subjectivity being the basis of one’s essence is that absolute truth is abdicated. Subjectivity itself can narrow without thereby recognizing this and thus being self-correctable. More than looking into an abyss is necessary to grasp a normative anchor. In the film, neither Gekko nor Bud even look into the abyss.