It’s the economists stupid!
I thought that the video below (Principles of Economics – Translated) by Yoram Bauman was quite funny; so I visited his website and found You might be an economist if, a selection of ‘in jokes‘ for economists. I have selected the following and added some links so that I could ‘get the joke‘. Economists would seem to be like politicians – well like the rest of us really – always able to rationalise a failed foresight with beneficial hindsight (listen to what Yoram Bauman says about macro-economists). To be fair to the economists, in the following one liners they are making fun of themselves. If you click on any of the links – you really might be an economist if:
- …your idea of a romantic evening is cuddling up with your honey and a bowl of popcorn to watch “A Beautiful Mind,” then engaging in hot and heavy discourse about why the bar scene solution is not a pure strategy Nash equilibrium. (Elaina Rose, University of Washington)
- …if your first association for Chicken Alfredo is Vilfredo Pareto. (Pavel Yakovlev, Duquesne University)
- …if your wedding proposal includes an estimation of expected present value, or if your wedding vows include a discussion of gains from trade. (Justin Cress, Univ of Kentucky)
- …you think every episode of Law and Order could be resolved with the Prisoners’ Dilemma. (Adapted from anonymous)
- …you don’t believe there is a Free Lunch but you do believe in Free Trade. (Ken Heyer, U.S. Dept. of Justice Anti-Trust Divison)
[For a transcript see Principles of Economics]
- … you refer to a large job you sent to the printer as increasing the demand, and thus the equilibrium quantity, of trees. (David Tabak, NERA)
- …you’re an expert on money but you dress like a flood victim (adapted from this Dilbert cartoon from Sept 1, 1994)
- …you watch “America’s Next Top Model” and vote for Cournot. (Ken Heyer, U.S. Dept. of Justice Anti-Trust Divison)
- …you think that “supply and demand” is a good answer to the question, “Where do babies come from?”
- …you plan to have your children born in December instead of January in order to maximize the discounted present value of the child tax credit.
- …you understood that last joke. (Bonus points if you can cite Stacy Dickert-Conlin and Amitabh Chandra, 1999, “Taxes and the Timing of Births”, JPE 107:161-77, or similar work from fellow UW grad JT Huang’sdoctoral dissertation.)
- …you read your fortune cookie at a Chinese restaurant and put “at the margin” at the end of it.
- …any of the following phrases has ever come to mind in a romantic situation: “joint utility maximization”, “not tonight, honey, I have an externality”, “diminishing marginal product of labor”.
- …you have tried to convince your friends that “getting your money’s worth” doesn’t apply at all-you-can-eat buffets because it is a sunk cost. (Noreen Templin, Wichita State Univ.)
- …you have told your husband not to tailgate the slow old lady on the freeway because then he is making an interpersonal utility comparison.(Noreen Templin, Wichita State Univ.)
2017 @ A.P. Herbert AI Albert Haddock Banks blog book books budget budget deficit C.S. Lewis censorship China Civil Service constitution Crime CRT cryptocurrency CWG debt deficit democracy education ethics EU euro fiat money Film France freedom of expression free trade gdp government history human-rights inequality internet J M Keynes language Law Ludwig Von Mises Margaret Thatcher morality music Musical national debt New Labour NHS opinion parody PFI poetry police Police & Crime Commissioners politics Quantitative Easing research school Screwtape Sir Ethelred Rutt K.C. social-media Social Welfare statistics T.E. Utley taxation terrorism Thatcher The Telegraph UK Unemployment USA Victor Hugo war war on terror
© Peter Barnett and Aasof’s Relections. Unauthorised use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Aasof and Aasof’s reflections with appropriate and specific direction to the original content.