The Ludwig von Mises Institute — “the research and educational center of classical liberalism, libertarian political theory, and the Austrian School of economics” — examines the economics of The Amazing Spider-Man, using information from this website to chart the title’s rise in price over the past four decades:
Basic economics tells us that if the demand for Amazing Spider-Man increases at an existing supply, more will be offered for it and the price will rise. Profits at Marvel, Spider-Man’s publisher, would grow, and managers at Marvel would therefore increase the supply of comics, or competitors would enter the market with similar products. This increase in supply would reduce prices and profits. Conversely, a drop in demand should result in a decline in price, profits, and supply.
Below is a chart showing circulation statistics for Amazing Spider-Man over the years.
Not exactly stellar. Except for the boom years in the early 1990s, the title’s popularity has actually waned. That this hasn’t caused a drop in prices seems to defy economic logic. Even the dramatic plummet in demand for Spider-Man from 1994 to present day has been accompanied by more than a doubling in monthly prices from $1.25 to $2.99. What gives?
There’s a lot of talk about supply and demand, and the printing of dollar bills versus the printing of issues of Amazing Spider-Man. To be honest, I’m too groggy this morning to wade into it.
June 11th, 2007 at 10:01 am
Two factors–well, maybe 1 1/2–that he doesn’t take into account are the increase in production values (the move to full-color on good paper), and higher pay and royalties to creators (I’m sure even adjusting for inflation, they make more today drawing one book than they did in the 60s drawing 3 or 4).
June 11th, 2007 at 11:44 am
The Mises Institute is at Auburn University, not Austria - it is, however, devoted to Austrian economics, of which Ludwig von Mises was a founding father.
June 11th, 2007 at 11:46 am
See? I told you I have groggy.