Economics Summary: Monopoly, A Board Game

Monopoly Monopoly is a board game that came out in 1903, and one of the main goals of the game was to demonstrate that an economy which rewards capitalism is better than one in which monopolists work under few constraints, it also was used to promote the economic theories of “Henry George” and in particular his ideas about taxation. The goal of the game is to bankrupt all of your opponents which is typically done by acquiring complete colour groups mostly known as a “monopoly” and building on them to at least the level of three houses, as this is when rent begins to go up significantly making your opponents to go bankrupt by paying higher rent when they land on a property that you own. Monopoly can be played by people

In real life the same concept applies, most assets increase in value depending on the cash flow they produce. Another lesson that is learnt is that assets that very expensive are not always the best to invest in, in monopoly the most expensive properties to own have big payouts but are expensive to maintain which means they’re not good in cash flow, meaning you’re overpaying to acquire them and setting yourself up for losses. The last lesson to be learnt from the game is not to put all your eggs in one basket. To win in the game you can't invest in only one property and load it up with hotels because this will minimize your chances of having a high cash flow, so the best thing to do is to invest in different properties so that if one doesn't make money there will always a probability of the other properties to make you money. This applies in real life too in that if you invest all your money in only one investment, there will be a chance of you losing it all if the investment fails so it is always a smart idea to spread your investments in different things so if one fails and the others become successful you will not lose all your money. Monopoly is a very easy game to learn, as it does not have complicated rules to play which makes it a suitable game for players to player on any occasion or if someone

The game has a few shortcomings, like it can be time consuming which can make some players disinterested and bored.This can make some players not want to play the game again, the other thing is if the players have limited time to play the game, there might not be a winner because the players will not have ample time to play till they finish the game. Another shortcoming is that some players can be eliminated from the game early on which may make them feel left out while everyone else is playing. Considering the advantages and disadvantages of the game, anyone who has played the game would agree that it’s a good and very fun game that is very good for social functions and just for friends and family spending time