Centerfield

Magical Economy in Harry Potter (No Spoilers)

It's amazing how impressions differ. Jane Galt / Megan McArdle sees a lack of magic rarity and plausible economic backing in Harry Potter.

That's the opposite of my reaction. I was pleased by the magical economy, thought it was better-done than most fictional magical economies , and thought some effort had gone into it. Now, it's true she doesn't directly explain it, but that would be boring and hopeless for the kids that are the target market of the book. OK, I'd buy it, and probably Ms Galt and maybe five other people.

A big thing I like about the books is that they don't ignore economics. Unlike most other fantasy novels set in the present, they neither wistfully look away from money nor fluff it, but use it to extend magical possibilities as you'd expect; you can buy magical items and services from a globalized economy. Scarcity works exactly the same way as in our economy - scarce things that cost many Galleons, and common things like candy are cheap.

In economic terms, there must be scarcity: magical power must be a finite resource.

There is. We only see certain spells. And, like running a computer program in our world, spells don't just do exactly what you want done. Anytime they do anything, they have to decide what they can do that gets them closest to their goals, and spend time, effort, and often money to make their plan happen. There are no spells that'll simply stop Voldemort, just as there are no location spells in Lord of the Ring, for Sauron to cast to find the Ring.

Why are the Weasleys poor? Why would any wizard be? Anything they need, except scarce magical objects, can be obtained by ordering a house elf to do it,

No. There are limits to what the spells we see can do. Few things can be created outright by magic. Magical objects can be made, but only from preexisting objects. Much less can you create new real estate. The Weasleys have to shell out for expensive English real estate just like other British public servants, probably pay for the Floo connection somehow, etc., and so on. The Weasleys do it for the same reasons as civil servants in our world take underpaying and bureaucratic jobs.

Well, all to our tastes - she liked Hart's Hope, and it drove me up the wall both times I failed to make it through.