Pizza, Lebron, and Economics

Papa John’s in the Northeast Ohio had 23 cent pizzas yesterday.  People waited in line 5 hours to get these pizzas.  Keep in mind, you were limited to one pizza per household.

So let’s say that it would have cost you $10.23 for that same pizza, without the special.  You saved $10 by waiting in line for 5 hours.  If someone asked me to wait in line to save $2/hour, I don’t think I’d be interested.

Estimating that you make $5 after taxes at a minimum wage job, you could have earned $25 in that same amount of time.   And considering the tax bracket that most minimum wage earners are in, we’re probably talking more like $30 or so.

The only people who belonged at the end of a 5 hour line are those who are both unemployed and poor.