EconGoneCountry

Supply and demand with a twang


Title: Alright

‚ÄčArtist: Darius Rucker

Economic Concepts: Normal goods; inferior goods; standards of living

Details: Income is a determinant of demand but has different implications for different types of goods and services.  The demand for normal goods rises when income rises and vice versa, while the demand for inferior goods falls when income rises and vice versa.  If the economy enters a recession and income falls, the demand for inferior goods, such as boxed wine and pasta, will increase.  "Don't need no five star reservations.  I've got spaghetti and a cheap bottle of wine.  Don't need no concert in the city.  I've got a stereo and the best of Patsy Cline.  Ain't got no cavair, no Dom Perignon."  When times are tough people cut back and make due with the simple things in life.  A great example of this is the "staycation" which gained popularity in the U.S. during the depths of the Great Recession.  When income was tight, people were forced to entertain their families with trips and activities close to home.  "Maybe later on we'll walk down to the river.  Lay on a blanket and stare up at the moon.  It may not be no French Rivera, but it's all the same to me as long as I'm with you."

        This song can also be used to illustrate the concepts of standards of living when discussing economic growth and development.  In general, people are better off with more income but there are other things which affect happiness.  Some countries have per capita income levels much lower than the U.S., but have high levels of life satisfaction.  "It may be a simple life, but that's okay...cause I've got a roof over my head...I've got shoes under my feet."                    

Lyrics
Alright, alright
Yeah it's alright, alright


Don't need no five star reservations
I've got spaghetti and a cheap bottle of wine
Don't need no concert in the city
I've got a stereo and the best of Patsy Cline
Ain't got no caviar no Dom Perignon

But as far as I can see, I've got everything I want


Cause I've got a roof over my head,
The woman I love laying in my bed
And it's alright, alright
I've got shoes under my feet
Forever in her eyes staring back at me
And it's alright, alright
And I've got all I need
And it's alright by me


Maybe later on we'll walk down to the river
Lay on a blanket and stare up at the moon
It may not be no French Riviera
But it's all the same to me as long as I'm with you

It may be a simple life, but that's okay
If you ask me baby, I think I've got it made


Cause I've got a roof over my head
The woman I love laying in my bed
And it's alright, alright
I've got shoes under my feet
Forever in her eyes staring back at me
And it's alright, alright
And I've got all I need
And it's alright by me

It's alright by me, yeah yeah
When I lay down at night I thank the Lord above
For giving me everything I ever could dream of

Cause I've got a roof over my head
The woman I love laying in my bed
And it's alright, alright, alright, alright
I've got shoes under my feet
Forever in her eyes staring back at me
And it's alright, alright, alright
And I've got all I need, yeah
I've got all I need
And it's alright by me
Oh yeah, it's alright by me