Wednesday, October 15, 2008

(Austrian) Economics Movie?

This article warning that Paul Krugman could become "massive douchebag" after winning the Nobel economics price is pretty funny (so funny that even though it sort of satirizes Krugman, he links to it on his blog). An excerpt:

""I think it's safe to say that Paul had pretty high self-esteem before the Nobel thing went down," said one of Mr. Krugman's Princeton associates, who spoke on condition of anonymity. "But now he's walking around like he's Jay-Z or something."

The first ominous sign, according to the associate, came at a meeting of the economics department this morning, when Mr. Krugman showed up with a coffee mug reading, "No. 1 Economist."

While his colleagues discussed the current global financial crisis, Mr. Krugman "couldn't be bothered" and spent the meeting texting Matt Damon instead.

At one point, one of his fellow economists asked him a question about credit default swaps, to which Mr. Krugman reportedly snapped, "Credit default swaps can suck my ass -- I'm Paul Fucking Krugman!""

In the end it also contains the idea of turning Krugman's popular text book "International Economics-Theory And Policy" into a movie starring George Clooney.

That would perhaps be good way of spreading sound economics. Making some kind of movie or TV-series or something like that to spread sound economics. As far as I know the ontime this has been tried was with Milton Friedman's Free to Choose.You could for example have "Economics in One Lesson-The Movie" or "Man, Economy and State-The Movie" or "America's Great Depression-The Movie".

Especially if the adaptation were done with the help of comedians or other people with a great sense of humor this could be a hit as is illustrated by the great popularity of comedians John Bird's and John Fortune's role play about financial markets and subprime lending.

One thing that of course has to be avoided at all costs would be using the kind of Greek letters and mathematical equations that typically appears in neoclassical academic texts, as the second commentator to Krugman's post pointed out regarding the suggestion that Krugman's book should be turned into a movie.

The focus should instead be to illustrate Austrian theories with practical examples and humor to as high as extent as is possible without compromising any important theoretical points.


Blogger Celal Birader said...

Somebody made a cartoon about the banking system. I think it's pretty good. You can watch it from HERE. Cheers...

10:38 PM  

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