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Ten Principles Of Economics: Translated

I first ran across Yoram Bauman’s name, in Daniel Gross’ NYT article: The Forecast for the Forecasters Is Dismal [NYT] [1] and then in Freakonomics blog [2] and Greg Mankiw’s Blog [3]

Yoram K. Bauman, an economist who teaches at the University of Washington and performs stand-up comedy, summed up an often-used line: ”Macroeconomists have successfully predicted nine of the last five recessions.”

Bauman claim’s to be the world’s first and only standup economist.

He’s hilarious. It says a lot about the information that is pumped out into the public domain.

In college, the last question on my macro econ final was:

Which statement is true?

a. There is no such thing as a free lunch.
b. Look out or they’ll do it to you.
c. Them that has, gets.
d. All of the above.