Glengarry Glen Ross And The Labour Market (Coffee Is For Closers Only)

ABC. A-I-D-A. Coffee is for closers only. Funny stuff indeed.

This scene is a good illustration of the reality of winner-take-all tournaments.

With the rise of robots, second prize is moving towards “you’re fired” too.

The changes in the US labour market since this film was made in 1992 starring Alec Baldwin, and since David Mamet wrote the play in 1984, include a sizeable drop in labour force participation.

When most people can’t win the tournament, and the value of the second prize is being competed away over time, is that any surprise?