Principles of economics, translated

"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.)

Category:

Comedy

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• Mankiw
• Mankiw's
• Principles
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• Economics
• translated
• AAAS
• AIR
• Yoram
• Bauman
• stand-up
• economist

[airjesse123]

4:02

[Dimitri0809]

Uhhh?? Isn't basic economic rule about exchanging your money for someone else's labor to produce you a product?? The facts are so overwhelming and are so profound...

[Scientisticsoviet]

True to some degree. Generally one learns descriptive economics in school, however, normative economics does exist; I think the more important issue is to uncover implied (not logically, but psychologically) normative assumptions in descriptive concepts (eg. utility maximization)

[sheezypie]

reminds me of homer simpson - 'heh heh..mule..'

[vuk1990]

Aren't these all Austrian economists?

[chistorro12]

The 'funniest' thing is that most of the arguments he gives against these principles make sense.

[Pipgoil]

Behold the 10 commandments of capitalist economics.

[Pipgoil]

"A country's standard of living depends on its ability to produce goods and services"

This is directly tied to a moral goal.

[Pipgoil]

China has such a high standard of living, producing all those goods and everything.

[Seanzi25]

Yorum has a great show, but being an economics major, I might be biased.