What Daenerys Targaryen Needs To Know About Occupational Licensing by Yglesias

A couple other good scenes in a Song of Ice and Fire on economics:

In book one, the new Hand of the King learns that his friend King Robert Baratheon has buried the kingdom in debt. At his first small council meeting he argues against the tournament being thrown in his name. He says its an extravagance they can't afford, whereas Littlefinger, Varys and Renly argue that he doesn't understand the paradox of thrift and the tournament would provide a good economic stimulus and distraction.

At a later small council meeting - in book two - they receive a white raven from the Citadel in Oldtown. It means the maesters have determined Fall has arrived and a lengthy Winter is coming. Master of Coin Lord Petyr Baelish announces they have enough grain to last a 4 - or 5? - year winter but if it lasts longer, well, they'll have fewer peasants. 

This is a nice example of the "hard choices" elite policy makers have to make to gain "street cred" with their fellow international elite. Yglesias himself once used the example of Bill Cowen of Fianna Fail. If Littlefinger had any peasant friends or family members of course he might err on the side of caution and set aside enough grain for 6 years.