Added: Nov 18, 2008
From: yorambauman
Duration: 5:20
"Mankiw's 10 principles of economics, translated for the uninitiated", by Yoram Bauman, http://www.standupeconomist.com . Presented at the AAAS humor session, February 16, 2007. For the record, the talk contains two unattributed quotes ("9 out of 5" is adapted from a line attributed to Paul Samuelson---although apparently he said it about Wall Street indices, not macroeconomists---and "wrong about things" is paraphrased from P.J. O'Rourke's Eat the Rich) and, of course, the Einstein "simple" quote is an intentional misquote. The talk is based on a published article in Annals of Improbable Research (see http://www.improb.com/airchives/paperair/volume9/v9i2/mankiw.html ), which sponsored my talk and to which you should subscribe (http://improb.com/subscribe/ ). In the paper you can see the "constructive example" of how trade can make everyone worse off (or you can just wait 50 years to see what happens with climate change). More info and other clips on my website (http://www.standupeconomist.com ), and please sign up for my email list. (No spam I promise.)
Channel: Comedy
Tags: aaas air bauman economics economist mankiw mankiw's of principles stand-up translated yoram
Rating: 4.79 (1193 ratings) Views: 493945' favoriteCount='2950 Comments: 25
guavatone Says:
Nov 18, 2008 - Simpply brilliant
TPorter72 Says:
Nov 18, 2008 - pretty good stuff
NeonKnight88 Says:
Nov 18, 2008 - seven and ten are false
thparadox Says:
Nov 18, 2008 - Really? I'm having trouble understanding this.. Maybe you could give me some examples?Oh wait, here's one. You give me a moronic comment to read on youtube, which makes me 2% dumber. In exchange, you find out that you're a douchebag. Everybody wins.
454305 Says:
Nov 18, 2008 - Mr Skouras kicks ass!
theo26787 Says:
Nov 18, 2008 - Mr. Skouras is the best!!!
mcmurfee Says:
Nov 18, 2008 - these nerds have to shut up. they are extremely in to this conversation...its not that funny.
larslowther Says:
Nov 18, 2008 - Study your philip's curve.
larslowther Says:
Nov 18, 2008 - That's a very naive approach to trade. Reality shows otherwise, despite what economic theories tell us about how people won't trade unless they're better off. Go to the point "People are stupid" and we have our basis for how trade can be bad.
NeonKnight88 Says:
Nov 18, 2008 - Phillips curve is a lie, see zimbabwe, see america in 1970s
kombajndosalatek Says:
Nov 18, 2008 - dude.. please.. ;]
devine122 Says:
Nov 18, 2008 - supply and command is pretty easy to understand, you supply the oil, you command the money
tharcour6 Says:
Nov 18, 2008 - No, the Phillips curve is not a lie. Its simply a short run trade off. If you look at the equation for the Phillips curve it has this little term called expected inflation. That enables the curve to shifted in and out. In the case of the US in the 70's inflation kept rising so people expected it to remain high and the Phillips curve shifted out. In Zimbabwe the Phillips curve has shifted so far out you cant put it on the same graph as other countries, but the trade off is still there
tharcour6 Says:
Nov 18, 2008 - @ ThAtCrAzYgUy619, yahlers & ddorothy: That is totally prejudice and completely and utterly disgusting! You should be ashamed of yourselves!
LadyNemesis2007 Says:
Nov 18, 2008 - LMAO
NeonKnight88 Says:
Nov 18, 2008 - inflation is the increase in the money supply period.Price/wage levels cannot increase in the longterm without an increase in the money supply no matter what "expectations" are except with a decrease in the amount of goods relative to the money supply or an increase in the money supply relative to the amount of goods. Otherwise there will be liquidity problems.
bimmjim Says:
Nov 18, 2008 - Fire all the employed economists and give their jobs to the unemployed economists.This economic model cannot continue to function therefore we must do such things as redifine GDP. Replace the concept of externalities with the idea of natural capital. Tax money made by speculation higher and higher to reduce speculation.Eliminate short selling on the futures markets.(Or explane to me how it is not just gambling)Or in other words just remake the model so that it fits reality.
darkstar1one Says:
Nov 18, 2008 - What does he say: "that kind of sloppy thinking will never get you a [something] position"?
crueltyinc Says:
Nov 18, 2008 - "tenure track"
tangshanjige Says:
Nov 18, 2008 - the man in the vedio is the most stupid man in the world
spikesmth Says:
Nov 18, 2008 - Awesome... when I'm taking my econ exams I always think of it that way... It's the only way I can connect the theories we learn to why the world doesn't look anything like the theories.
Xharveen513X Says:
Nov 18, 2008 - arse
buttonsputon Says:
Nov 18, 2008 - VOTE HEMP vote for economy with all of it's commodities!
dcspc Says:
Nov 18, 2008 - i don't really get the snicker bar thingy
PureGospelRadio Says:
Nov 18, 2008 - sad but true