General

Re: "Principles of economics, translated" wtf?

Solredime — Mon, 29 Mar 2010 12:37:49 GMT

I remember my economics teacher showing us this back at school.

I really don't understand the "macroeconomists have predicted 9 out of the last 5 recessions." Where the hell does that come from? Macroeconomists fail because they underpredict. Three years ago mainstream economists were heralding a "new economy" of permanent prosperity, right before the crash.

The choices are bad thing makes no sense either. Choices are good, otherwise people could not improve upon their lot in life, or "choose the optimum consumption bundle given their budget constraint". It's almost as though he is trying to wish away tradeoffs from reality.

Some of the stuff on opportunity cost is funny though, and so is the margin part.

The trade makes everyone worse off part was completely worthless. It was wrong, without being funny.

Re: "Principles of economics, translated" wtf?

abskebabs — Mon, 29 Mar 2010 11:08:05 GMT

I decided to get in touch with Dr Bauman and asked him if he'd heard of the Austrian School. He replied he had, and it looks like he's looking into it now while preparing his macro cartoon book. He thanked me for the links I provided too. Good stuff!

Re: "Principles of economics, translated" wtf?

Giant_Joe — Thu, 25 Mar 2010 03:55:13 GMT

Conza88:

scineram:

Drink.

At least we now know why, one word sentences is pretty much all you can muster...

Although I agree with the sentiment, this is still a ROFL statement. :)

Re: "Principles of economics, translated" wtf?

Conza88 — Thu, 25 Mar 2010 01:27:26 GMT

scineram:

Drink.

At least we now know why, one word sentences is pretty much all you can muster...

Re: "Principles of economics, translated" wtf?

scineram — Thu, 25 Mar 2010 01:22:01 GMT

Drink.

Re: "Principles of economics, translated" wtf?

Nebelwerfer — Thu, 25 Mar 2010 01:01:38 GMT

You should watch some of his other stand-up stuff. A couple of his gigs are posted on Youtube. I always thought they were funnier than this one.

Re: "Principles of economics, translated" wtf?

nirgrahamUK — Wed, 24 Mar 2010 23:20:13 GMT

he is not giving a critical lecture. he is making cheap jokes. he is trying to humour an audience not educate.

Re: "Principles of economics, translated" wtf?

Nielsio — Wed, 24 Mar 2010 22:33:12 GMT

Giant_Joe:

I liked his description of number 4.

Why? It's a blatant strawman. Clearly what is being meant is that people respond to a change in incentives; and we should think about those changes and it's consequences. And even though it's on itself a bit of a tautology, that doesn't mean many people would deny this simple truth and it bears repeating.

Re: "Principles of economics, translated" wtf?

Nielsio — Wed, 24 Mar 2010 22:29:17 GMT

hayekianxyz:

Are you this much fun at parties?

I don't laugh at jokes that I find nonsensical. Even at parties. I don't find parties very fun where people laugh for no reason.

Re: "Principles of economics, translated" wtf?

Nielsio — Wed, 24 Mar 2010 22:28:13 GMT

abskebabs:

Are you sure you didn't react this way because you're watching this video knowing beforehand the guy's a nutty environmentalist?

I didn't know anything about him prior to the video.

Re: "Principles of economics, translated" wtf?

Nielsio — Wed, 24 Mar 2010 22:27:30 GMT

I. Ryan:

Nielsio:

Because it makes no sense. It's not even childish humor. It seems total desperation to me. This guy is an environmentalist (see the wiki link), and hates the nature of reality and human freedom. So he comes up with a string of non-sequitors. I feel to see how this could be funny to anybody besides the most desperate of lefties.

Did you not even like the joke about macro- and microeconomics?

No. Like I said: his jokes don't make any sense. Micro-econs are wrong about specific things and macro are wrong about things in general? How is that funny? All he's saying is that all economics is wrong; even though he says he's in economics himself.

Re: "Principles of economics, translated" wtf?

Giant_Joe — Wed, 24 Mar 2010 21:40:57 GMT

I liked his description of number 4.

Re: "Principles of economics, translated" wtf?

abskebabs — Wed, 24 Mar 2010 21:12:08 GMT

Nielsio:

I. Ryan:

Why is it not?

Because it makes no sense. It's not even childish humor. It seems total desperation to me. This guy is an environmentalist (see the wiki link), and hates the nature of reality and human freedom. So he comes up with a string of non-sequitors. I feel to see how this could be funny to anybody besides the most desperate of lefties.

Are you sure you didn't react this way because you're watching this video knowing beforehand the guy's a nutty environmentalist?

Re: "Principles of economics, translated" wtf?

hayekianxyz — Wed, 24 Mar 2010 21:11:48 GMT

Nielsio:

I. Ryan:

Why is it not?

Because it makes no sense. It's not even childish humor. It seems total desperation to me. This guy is an environmentalist (see the wiki link), and hates the nature of reality and human freedom. So he comes up with a string of non-sequitors. I feel to see how this could be funny to anybody besides the most desperate of lefties.

Are you this much fun at parties?

Re: "Principles of economics, translated" wtf?

I. Ryan — Wed, 24 Mar 2010 21:09:03 GMT

Nielsio:

Because it makes no sense. It's not even childish humor. It seems total desperation to me. This guy is an environmentalist (see the wiki link), and hates the nature of reality and human freedom. So he comes up with a string of non-sequitors. I feel to see how this could be funny to anybody besides the most desperate of lefties.

Did you not even like the joke about macro- and microeconomics?