Boom Bust Boom

Terry Jones is bullish.

Terry Jones is bullish.

(2016) Documentary (Brainstorm) Terry Jones, John Cusack, Andy Haldane, Zvi Bodie, Robert J. Shiller, Steven Kinsella, Perry Mehrling, Dirk Bezemer, Wilhelm H. Buited, Paul Mason, John Cassidy, Steve Keen, James Galbraith, Randall Wray, Nathan Tankus, Daniel Kahneman, Laurie Santos, Lucy Prebble. Directed by Terry Jones, Bill Jones and Ben Timlett

It is a fact of life that our lives are deeply affected by forces largely out of our control. It is not an exaggeration to say that many of these forces are literally beyond our understanding; one of those things is economics. Economics make the world go round in a capitalist society; when the system is working properly, prosperity is shared. When it isn’t however…

Jones, who some may remember from the subversive Monty Python comedy team from the 70s, aims to make sense of why bad things happen to economies. Using interviews with economists and historians to explain why economies that are booming end up going bust eventually.

The concepts are certainly interesting; basically Jones and his fellow filmmakers are arguing that the tendency for good economic times to breed a kind of euphoria that leads to bad decision making, an onset of greed and an eventual “bubble bursting” which takes the economy down. A lot of the concepts here have been argued by now-deceased economists like John Kenneth Galbraith (who like the other deceased thinkers are portrayed here by puppets and voiced by voice-over actors) and present-day ones like Haldane, Kinsella and Bodie.

But unlike most of the financial documentaries we’ve seen in the last couple of years, the finger-pointing that goes on (and there is some, to be honest) is tempered by an optimism that things can change. However our entire institutional mindset has to change, beginning with how we educate our up and coming economists. We see some interviews with college students studying for economic degrees who know little of the history of economic crises, from the Dutch Tulip crisis of the 17th century to the Great Depression of 1929 to even the most recent recession.

Those who don’t know history are doomed to repeat it, which makes not teaching it more of a crime. And in some ways, this entire documentary – only an hour and 15 minutes long – feels a bit like a teaching aid at an advanced high school teaching economics for students who might want to be economists someday. The puppets and animations that accompany the fairly dry talking head interviews are at least entertaining if at times simplistic.

However, there aren’t enough of them to really elevate this and the interviews can be a bit sleep-inducing, although there are a few charismatic sorts here including activist-actor Cusack who has some pretty strong opinions on the 2008 subprime bubble collapse. There’s also some fascinating information not only about the various bubbles but how they are part of human nature as anthropologist Laurie Santos shows an experiment in which monkeys on an island off of Miami were made to have a capitalist-like society with “monkey money” exchanged for the things they need and how they made horrible decisions based on manipulation by the scientists.

I find stuff like this fascinating; Da Queen, who works in the financial sector, is not normally very enthusiastic about these sorts of documentaries – it’s too much like being at work, she tells me – but she liked this one even more than I did, which should tell you something. I did find the interviews to be occasionally sleep-inducing, but that doesn’t mean that Jones and cohorts don’t explain the subject well, nor that the information isn’t good and necessary.

Not everyone will get into this, but this is useful information in understanding how the economy works. And we all should have at least a basic understanding of it, particularly if we intend to do any investing. If we’re going to make the right decisions with our money, we should understand how the system can work against us – or for us. Education is the first step in making things better; movies like this one provide it.

REASONS TO GO: The puppetry and some of the animation is fun. Some very interesting historical information.
REASONS TO STAY: A very dry topic indeed. A whole lot of talking heads.
FAMILY VALUES: Some adult themes and topics.
TRIVIAL PURSUIT: Directors Terry and Bill Jones are father and son, respectively.
BEYOND THE THEATERS: VOD, iTunes, Amazon, Vudu
CRITICAL MASS: As of 3/10/16: Rotten Tomatoes: 100% positive reviews. Metacritic: No score yet.
COMPARISON SHOPPING: Capitalism: A Love Story
FINAL RATING: 6.5/10
NEXT: The Automatic Hate

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