Exploring the Economics of "Caps for Sale": A Children's Book Hiding a Dystopian Nightmare?
"Caps for Sale," a children's picture book written and illustrated by Esphyr Slobodkina, was published by W. R. Scott in 1940.
In the story, the peddler hawks his caps, yelling out the price of fifty cents each to anyone within earshot.
Adjusting for Inflation: From Fifty Cents to Ten Dollars
Considering inflation, a cap that cost 50 cents in 1940 would be equivalent to around $10.78 in 2024. The cost of living generally increases over time. The Consumer Price Index (CPI) helps us account for this by measuring the average change in prices.
Here's the breakdown:
CPI in 1940: 13.9
CPI in 2024: 299.6
Price Increase Ratio: 299.6 / 13.9 = 21.56
Cost in 2024 Dollars: $0.50 x 21.56 = $10.78
Therefore, in today's dollars, you'd need $10.78 to have the same purchasing power as 50 cents in 1940. So, if the story was set in modern times, the peddler's cry would likely be a less catchy "$10.78 a cap!"
The Monkey Business and the Peddler's Potential Profits
There appear to be 16 caps for sale on the peddler's head (excluding his own hat). In 1940, the total value of the stolen caps would be $8. In 2024, that amount inflates to $172.48.
It's unclear whether the peddler made his own hats or bought them wholesale. Let's assume he bought them at half his selling price. If he sold all the hats for $172.48, his cost would be $86.24 (half the selling price).
A Long Day's Work (Without a Sale)
The story doesn't show the peddler making a sale. Even if he eventually sold all 16 hats, considering the lost time napping and dealing with the monkeys, it would likely take a long day – let's say 10 hours. In this scenario, his hourly wage would be $8.63, which falls below most minimum wage jobs. This is not even including any local, state, or federal, taxes.
While "Caps for Sale" is a charming children's story, the economics for the peddler are less than ideal.
Despite the challenges, the peddler has some advantages. He avoids expenses like rent for a store, transportation costs, and employee salaries. Since he carries his caps, his business has minimal overhead. However, efficiency could be improved.
A Risky Strategy: Monkey Marketing
The mischievous monkeys offer a potential, albeit risky, strategy. Since they mimicked the peddler's actions, he could train them to sell caps. The novelty of monkeys selling hats could attract customers and go viral on social media. However, this plan has drawbacks. Animal rights activists might protest the use of animal labor, and there's the unpredictable element of Mother Nature, god, the gods, or karma potentially punishing the exploitation of animals. Therefore, using the monkeys could be a significant downside to the business.
Targeting the Right Audience
Instead of wandering aimlessly, the peddler could target areas with large crowds, like baseball games or beaches, where people might be more interested in hats. However, this could lead to trouble. City officials might require a permit, which costs money and restricts his selling locations. Additionally, competing cap sellers might try to sue him for selling without a permit in their area.
That being said, getting shut down by city officials or rival businesses with deeper pockets could actually turn out to be the best thing that happened to him. Large corporations or big government shutting down a humble, affable cap peddler could draw him a lot of sympathy. He could alert the media to his plight, which would most likely portray him in a positive light. Even without directly asking the public, people hearing about his situation could start a GoFundMe campaign that could actually generate more money for him than selling the caps themselves.
Moreover, he could potentially leverage the newfound publicity from his cap-selling business to further his ambitions and run for president on a populist platform. He might be able to gain support from left-leaning voters because he would be seen as going against big corporations that shut down small businesses. He could also garner support from right-leaning voters who would sympathize with his attacks on government overreach.
After getting elected, if he further craved power and money, he could use his newfound government position to solicit bribes and secure favors that benefit him. He could also exploit the power of the military to invade resource-rich countries, further enriching himself through the exploitation of their resources. All the while, he would be consolidating power within his office.
However, history shows that this often leads to rebuke from the very people who elected him. He might lose a future election, or if he refused to leave office, it could lead to either a peaceful or violent popular uprising to remove him from power.
While 'Caps for Sale' may be a lighthearted story, it offers a springboard for discussions about economics, perseverance, and even the unexpected consequences of good intentions. The peddler's struggles highlight the challenges faced by small businesses, and the whimsical monkey business raises questions about the ethics of using animal labor. Ultimately, the story's enduring charm lies in its ability to spark curiosity and inspire creative thinking in young readers, even if the economics for the cap peddler himself leave something to be desired
