Wolverine: Several Lifetimes of Money Management

Wolverine is the ultimate badass. Any man who routinely is shot in the face and regards chopping someone in half as part of a standard work day is pretty damn badass. When faced with an unstoppable army of thousands of undead ninjas, there is no man I would rather have by my side (actually in front of me) than Wolverine.

But he's not a man I would want managing my 401k.

Throughout his long, long life Wolverine has shown very little interest in matters of an economic nature. He's spent most of his time living in cabins, hovels, and sleeping in the beds and houses of others. His worldly possessions seldom exceed the clothes on his back (usually a jumpsuit made of spandex or leather), a cache of cheap cigars, a motorcycle, and a six-pack of beer. This is the sum of the worldly possessions he has accrued in over 100 years of life. Granted, a large part of this life was spent being mind controlled and experimented on, but in the years since he's escaped from Weapon X, Wolverine has made a series of life decisions which placed him in financial jeopardy.

First, he left employment with Department K and Alpha Flight to become a member of the X-Men. This provided Wolverine with food, shelter, and access to Jean Grey but denied him the benefits of being a government employee. That is, of course, assuming that government secret weapons have access to excellent health care and a pension program. But since his time with the X-Men Wolverine has consistently shown he's just not interested in money. He became involved in the criminal syndicates of Madripoor, but only did so out of loyalty to the guys who ran his favorite bar and because he was attracted to the local boss, Tyger Tiger. At nearly all opportunities he avoided any financial gain through these criminal activities. He even became a mob enforcer later in life. But this was only so he could reorganize the structure of the mafia family to his personal liking. He became an agent of S.H.I.E.L.D. and left shortly after the purpose of his membership changed. He never saves money and doesn't place himself in a position to acquire assets.

But despite all this, Wolverine has stayed afloat. He's been able to purchase the things he wants when he needs to purchase them. It seems like beer, gasoline for a Harley, and plane tickets to Japan are always within his budget. Of course it's possible that he purchases everything with credit. And then when AIG sends him a bill, he mails it back with a picture of his claws covered in blood. All debts would be subsequently cleared.

But regardless, Wolverine's spartan lifestyle seems to be enough to sustain him. He has plenty of free time to right random wrongs, save the world with 3-4 teams of heroes, and sleep with the dozens of women who have shacked up with him over the years. Though Wolverine may not be very rich in the traditional sense, if he maintains his current lifestyle, it seems like he is managing his money quite well. He doesn't spend frivolously, he knows what he wants, and he makes sure that he gets it.

Of course if Wolverine ever tries to settle down and lead a normal life, his lack of assets could be disastrous. See "Old Man Logan" for the consequences of not saving enough to pay your rent money.

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Question for Readers: Who is the Richest Comic Book Character?

When most people think of "rich" comic book characters, they naturally flock to two notable superheroes: Bruce Wayne and Tony Stark.

The former, owner of Wayne Enterprises, uses much of the revenues gained through the many branches of the company (Wayne Steel, Wayne Shipping, Wayne Industries, Wayne Technologies, Wayne Medical, etc.) in order to fund his double life as Batman, equipping himself with an arsenal of bat-shaped gadgets, a utility belt, a kevlar (or somewhat stronger than kevlar) batsuit, a batplane, batsub, batmobile, and perhaps the most advanced supercomputer the world has ever seen ("Computer: cross reference this screeching sound with 'brown bat.'")

The latter owns Stark Industries, a multi-billion dollar company most known for its weapons manufacturing (an extremely lucrative market), but also having a strong international presence (Stark Industries has offices in Japan, Europe, etc.) and several subsidiaries (such as Fujikawa Industries and Stane International). Stark is of course famous for creating the Iron Man armor, which by far is the most advanced suit of armor in all comic book universes.

Naturally, it is easy to think of these two heroes, especially considering the recent motion pictures. However, there are several other wealthy comic book characters: Professor Xavier was a former nuclear scientist who inherited a fortune and owns an entire academy; Danny Rand (the new Immortal Iron Fist) owns Rand International; Oliver Queen was a billionaire and mayor of Star City; Lex Luthor owns Lexcorp, a heavy competitor of Wayne Industries in the DC Universe (Luthor has even managed to harness and channel some Brainiac technology, which he used towards gaining revenues for the company); Normal Osbourn owns Oscorp, and so on and so forth.

I will post my views either in the comments or a later post, but I'd love to hear from the readers the answers to several questions. Given your knowledge of these characters as well as the real-world performance of their respective industries (and assuming all the characters live in the same universe):

1) Who is the richest comic book character in terms of net worth? (You can answer pre-Dark Reign and Batman RIP and post-Dark Reign and Batman RIP)
2) What do you think is this character's net worth in today's dollars?
3) If you answer is not Bruce Wayne or Tony Stark, who of the two is wealthier?
4) Whose company do you think the recession is affecting the most (positively or negatively)?

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Point/Counterpoint II: Establishing an Intergalactic Union and Monetary Fund

(Guest Post from Metropolis. This post is the follow-up and counter-argument to establishing an Intergalactic Union)

Rann-Thanagar Holy War #8. Cover by Jim Starlin

Shadowbanker provides insights into the potential benefits of an intergalactic union with the Galacto as a common currency. However, I feel that most of the benefits mentioned would already come about from simply opening up the galaxy to increased interplanetary trade, without the additional burden of monetary integration and encroachment on planets’ political and economic sovereignty.

Let’s begin the analysis at the same place Shadowbanker did: an IU role in reducing interplanetary conflict. Using the EU as a case-study, it is true that war between France and Germany seems nearly unthinkable in the 21st century, but my guess is sentiment was much the same back in the 1980’s. European integration began almost immediately after the Second World War, but amounted to little more than a customs union until the 1990’s. One of the key motivations behind reducing tariffs and encouraging increased financial and other flows was to prevent future conflict, and by many estimates this goal has been achieved. Would a supranational governing body and common currency be able to do any more than that? So, if Thanagar started trading some of its Nth metal (anti-gravity substance) for some of Rann’s Zeta Beam technology (essentially a teleportation device which has an extremely long-range capacity and can even transport humans light-years away), then they would already have an interest in playing nice. It seems to me that the benefits of anti-gravity belts and teleportation devices would prevail over jingoism, regardless of whether or not the two planets shared the same currency.

If anything, it can be argued that national tensions have been on the rise since the EU began integration requiring the transference of some national sovereignty by each member nation. One can look at Britain and Italy’s currency crises in 1992, caused primarily by a monetary mechanism requiring exchange rate regulation. Differing economic realities across Europe meant that while Germany was raising interest rates to counter inflation caused by the reunification of East and West, Britain and Italy were forced to expend reserves to prop up their currencies when investment rushed out of their economies and into Germany.

Add the extreme xenophobia and unwillingness to relinquish sovereignty of many planets in the DC universe and you have an even bigger problem. Convincing Rann, Thanagar, New Krypton, Argo, and other planets to trade might be possible (after all, who wouldn’t want to teleport?). Convincing New Krypton that it would have to waste some crystals on account of Earth’s policies would be unthinkable. General Zod nearly had a stroke when the Green Lanterns suggested that he give up his jurisdiction over a prisoner to the Guardians of the Universe. Imagine if they had asked him for some money instead. It would have sparked Final Crisis II.

Aside from worrying about shocks to an existing system, we need to examine the feasibility of integration in the first place. In the EU alone there is a wide range of economic development in terms of GDP, business cycle patterns, and a multitude of other indicators. They are finding it very hard to integrate these pieces into a working whole without marginalizing some groups and disproportionately benefiting others. Uneven bargaining power means countries like France and Germany have far more influence over EU policies than smaller or newer members. Integration also means high adjustment costs for newly accepted member states (inflation in Hungary, Czech Republic and others). Current attempts to correct these issues and balance growth throughout the union means rich countries are paying for poor ones (see EU Structural Fund). Countries like Great Britain are again starting to raise their voices that the ostensible benefits of such a union are being outweighed by their costs.

This means that IU policies will likely be developed by the big guns – New Krypton, Rann, Thanagar, Earth, Daxam, etc. But what about the smaller, less developed planets? Will nobody consider the opinions of the poor residents of Bizarro World? Say the member planets hold a summit to craft policy and the major players decide to lower interest rates. The Bizzaros, of course, will want nothing more than to raise interest rates every time! And so it goes that the Bizarros never quite get what they want.

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Should Comic Books Incorporate Real World Economics?

We've discussed how the economic recession has been affecting characters and lifestyles in different comic book universes. Evidence of the recession's impact is prevalent both in DC and Marvel. Batman's absence since Grant Morrison's Batman RIP storyline has left Wayne Enterprises in a bit of a rough spot (though I'm not sure that Bruce really had anything to do with keeping company afloat aside from acting as a figurehead--maybe this is actually important to encourage investors in the company). Elsewhere, Tony Stark's recent "failure' during Marvel's Secret Invasion has led to the dismantling of S.H.I.E.L.D, the creation of a new homeland security organization, H.A.M.M.E.R., and the government freezing all of Tony assets at Stark Industries (including the Iron Man armor).

As this NY Daily News article points out, however, there is considerable debate among comic fans, creators, and even academics as to whether such a focus on the economy is good for readers. On the one hand, here is Dan Dido, executive editor at DC Comics:

I don't see how it doesn't work into our storytelling if not only our readers are feeling it, but our creators are feeling it

True that the readers might feel more attached the story if it reflected real world circumstances that they could connect with. But consider the comments of Mark White, Professor at the College of Staten Island:

Comic books are a way for people to get away from the real world. They don't want to be reminded of wars or tragedies or economic catastrophes.

This raises an interesting point as well. Although comic books have incorporated real-world since their inception (World War II, the Cold War, nuclear waste, the Red Scare, etc.), they have always been the medium to consistently portray characters that are "larger-than-life" and are able to overcome these obstacles with minimal attrition.

I would love to get some reader opinions on this. Should the comic book medium continue to evoke these harsh realities through their stories or should their primary purpose be to help the public escape these realities?

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Point/Counterpoint: Establishing an Intergalactic Union and Monetary Fund

(This post will contain the arguments in favor of establishing an Intergalactic Union. Check back within the next few days for the counterpoint.)

We've spoken before about the detriments of barring trade and communication from other planets. Suppose, however, that the democratic systems in the DC universe suddenly decided to open themselves up to trade. The question now is: should the major, democratic planets in the DC universe establish an Intergalactic Union (IU)? I see several potential benefits for establishing a single marketplace and universal currency among member planets:

1) Minimizing War. Let's face it, even though planets in the DC Universe remain relatively independent of one another, there are lots of struggles going on. It seems that the only time planets communicate is when they're engaged in some sort of conflict for domination of another or if one is in the middle of a campaign for conquest of the universe. See the Rann-Thanagar War, Final Crisis, Secret Invasion, and countless other examples of intergalactic warfare.

We already know that some entity in the universe cares about the continued survival of the galaxy. In the DCU, the Green Lanterns are a police force composed of humans and aliens from various planets in the universe, whose jobs are to patrol each sector in space at the behest of the Guardians of the Universe. You would think that with all the conflicts going on (Darkseid nearly just unmade existence, after all), the Guardians might be interested in acting as more than just a safety net, but perhaps also try some preventative measures. Organizing major planets into an IU would certainly help there. Building more economic interdependence would foster an interest to prevent the destruction of other planets.

Consider the European Union. What do you think the probability is of a major armed conflict between France and Germany? Likewise, if Rann and Thanagar were trading partners and Rann was reliant on Thanagar for its imports of the Nth metal--a resource native to Thanagar that has the property of negating gravity--do you think that there would have been a war? Of course not. It would have been in Rann's best interest to keep importing gravity boots.

2) Building Stronger Currency and Improving Wealth. Establishing a single market and an Intergalactic Monetary Fund (IGMF) would allow member planets to enjoy freedom of movement of goods, capital, people and services. Humans would finally be able to hover through the sky, to walk on walls, and yes, float around in flying car. In exchange, Thanagarians would finally get their hands on Earth's iPhone and surf the web freely on their 3G networks. Investments and property purchases would easily be moved between planets. Joe Smith would be able to purchase that summer house on Daxam that he's always dreamed of (assuming he could live there -- Daxam is very xenophobic and had actually invaded Earth before. It also lives under a red sun called Valor) .

This would be made even simpler with a common unit of currency, the Galacto. The Galacto would help strengthen the single market by increasing transparency, minimizing exchange rate fluctuations, keeping interest rates low, and protecting against shocks in the global market. Looking at the EU, the European Commission estimates that since its creation in 1993, over 2.5 million jobs have been created. Furthermore, approximately 900 billion euros in wealth and productivity has been generated since its inception. The point: the IU would improve quality of life for all humans, aliens, New Gods, mythical entities incorporated into the system.

3) Inspiring Other Nations to Reform. If ever there became trade talks or a UN type organization, the IU would obviously have a substantial amount of power and influence. And this is not a bad thing since this includes the power to encourage reform in smaller or developing planets (LDPs). Previously hostile systems, dictatorships, etc. might be more swayed to embrace a liberal, democratic government and economy and contribute to the global marketplace.

These are just some of the many reasons why this union would work. Any readers care to submit any others?

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Could New Krypton Have Stayed on Earth?

The Citizens of New Krypton by Pete Woods.

It's truly a shame that Kandor's temporary stay on Earth did not work out as well as Superman had intended. But, economically and politically, it was doomed to begin with.

After Superman defeated Brainiac and retrieved the stolen city of Kandor, he restored it in its original integrity near the Fortress of Solitude at the North Pole. Overnight, Earth became the new home for approximately 100,000 Kryptonians. Hopes were high to assimilate the Kryptonian population into the Earth community and to teach them the way of Earth cultural and democracy. Yet as tensions rose (unfortunately human tendencies towards xenophobia and paranoia garnered the mistrust of many ill-tempered Kandorians), an exectuve decision was made by Alura-El (Superman's aunt and Supergirl's mother) to retreat completely into autonomy. Kryptonians were to live within their sanctuary at the North Pole, mining their own resources and disconnecting completely from the affairs of the primitive humans.

In effect, Kandor had become an autarky, a completely self-reliant society, economically independent of other nations. Unfortunately, prohibiting a society of 100,000 citizens from international trade or any sort of economic interdependence with other nations is not easy in 21st century Earth. The world is globalizing--fast. Technology, communication, and industry are rapidly expanding into global markets and more nations and societies are quickly being integrated into this system of trade and interdependence. This is why recessions tend to have global impacts; the increasd interconnectedness of these markets makes local economic collapses that much more difficult to contain.

Economic autarkies today either are not real autarkies, or are not doing so well. Consider the case of North Korea. It maintains an "autarkic" command economy and a strict isolation policy from Western countries. The problem is that it is not completely cut off, as Kandor intends to be. In 2008, North Korea's trade rose 30%, three-quarters of which came from China. It has even begun conducting small amounts of business with South Korea. Actually, North Korea also receives considerable foreign aid, from countries including South Korea and even the United States. Beyond that, its economic conditions aren't so hot. Growth is significantly hampered due to its trade restrictions, even though GDP has been rising in recent years. Poverty continues to be a huge problem as well.

Kryptonians do have certain advantages that would aid them in remaining isolated from human existence. A major one is that, apparently, they do not need to eat (how sad!). This means that finding resources that can be made into a source of food is not a problem. Yet, there is no denying that the Kryptonians do need some Earth resources. They have established science and medical guilds, meaning they are interested in innovation and technology. Obviously, they're going to need more fancy crystals to put into crystal tubes. They have labor guilds, which means they need to use tools. And Krypton is a society which pours most of its resources into its own rapid development.

Since its resources on the original Krypton were all but depleted, it needs to make due with the scarce ones available on Earth. The North Pole has untapped minerals and fuels, but I'm betting Kandor will need more that, especially if it wants the kind of technology that will send a child through the galaxy in a crystal ship. This is why Alura sent teams to explore human nations -- it wasn't just to spy on them, it was also to gather stock of what resources might be available to them.

Eventually tensions rose so high that, following an epic battle with the Justice League, the citizens of Kandor left Earth and established a new society on a different planet altogether (New Krypton). It's truly a shame. Imagine the implications for Earth's economic growth and technological innovation if we could have worked out or differences and integrated Kandor into the global marketplace. Once again, we blew it.

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Lloyd's of Asgard

So far, we've discussed the issue of superhero/supernatural insurance as seen in the posts by the distinguished ShadowBanker here and here.

These posts got me thinking about insurance for superheroes. Not just insurance purchased by the public to protect against any damage caused by superheoes, but insurance purchased by the heroes themselves. Insurance firms in the real world have shown themselves willing to insure elements of an invidual such as the legs of a supermodel or a singer's voice. If these special abilities and attributes can be insured, why can't super powers?

This type of insurance would likely apply to those heroes who are not independently wealthy. If Tony Stark's armor is damaged, he has the money to repair it. But if the Punisher loses a prize shotgun or has his property crushed by an irate Russian man, how will he get a new one (especially since he has no discernable source of income)? It's up to superhero insurance to replace these tools and abilities, if possible. If the Flash loses his super-speed, the company which insures his power would be tasked with buying a rack of chemicals and getting said rack struck by lightning while Barry Allen stood next to it.

In my previously listed example a supermodel's legs contribute greatly to her livelihood. The model makes her money based on her looks and if those looks are damaged, her ability to earn money is greatly diminished. Hence the need for insurance. This is not necessarily true for superheroes. Most heroes do not derive their economic support from their powers or tools. However, the powers and super weapons do have intrinsic value for the protection of society. If Luke Cage loses his powers, there is a void in the protection of urban areas. The first goal of insurance should be to pay for an attempt to restore his powers. But if this is unsuccessful the company insuring Luke Cage's invulnerability could pay for youth centers and more police officers if Cage's powers disappear. This would be a good option in lieu of providing the money to Cage himself.

Another aspect of insuring superhero attributes and weapons would be to protect against any damage caused by them. This particular insurance could work a lot like car insurance. If your car damages another vehicle, the insurance you purchased for your car will be used to repair the damages to another individual's property. This type of coverage could be applied to the superhero world. If, for example, your mighty thunder hammer Mjolnir is used to destroy a children's hospital, the insurance you place on the hammer could be used to repair the damage up to a pre-arranged amount determined by the insurance companies.

The insurance could also protect against damaged caused by high-jacked superpowers. If the Mandarin takes control of your armor or Mimic steals your optic blasts, it would be reassuring to know that a financial institution had capital and established procedures to back you up.

Of course, there exists the question of who will pay the outrageously high premiums of items of such high value as Thor's hammer and Spider-Man's spider sense. These are items that, if placed in a Mastercard commercial, would likely fall under the category of "priceless." The cost could be partially underwritten by the government and the superhero him/herself. It's also possible that the hero could provide services of more traditional economic value (such as endorsing the company that insures them in advertising spots) in order to reimburse some of the company's investment.

Regardless, this method of insurance would center around the hero and not the environment that they interact with and could provide more focused insurance. But thoughts are welcome about how this system could work and whether it would even be feasible for any company to become involved with superhero insurance.

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