Paul Krugman Explaining Macroeconomics on a Roller Coaster

No, I am not kidding. His first roller coaster. Paul’s expression at the end is priceless. I haven’t seen him so ready to throw up since he debated Ron Paul. Personally, I’d prefer to do Economists in Cars Getting Coffee but the fact that this last only 2 minutes is probably for most people a bonus.


Such is life in Trump's America: a roller coaster ridden by an idiot, full of sound and fury meaning nothing.

It's two idiots, actually.

One of them is a professional clown, the other one is Stephen Colbert.

I know this site gives quality depending articles or reviews and other material, is there any other web page which offers
these data in quality?

quidditch and hackeysack, Hackensack and Oswego, sure bob skip the frog skip skip skip, not a skip in sight, not an egg to count, yet you do understand boston literature which is saying something if you consider prague.

These comments are so sophomoric that they only reflect badly on the authors. If this is the quality of comments I can only conclude it is not worth anyones time to come here

That's really the only conclusion you can draw? Presumably are here primarily for the content not the comments.

And another weak comment by another MR cuck. Maybe Tyler is right, we should shut down the comments.

What, Sacha Baron Cohen was busy? Why are people willing to put themselves in such ridiculous situations? My question: has Cowen ever put himself in a ridiculous situation? I agree about economists in cars getting coffee. How ridiculous could that be?

Russ Roberts should consider it.

For a guy on his first roller coaster Krugman did not do too bad. Not bad at all.

Haha yea definitely. Not the biggest fan of the guy but credit where it's due, he did pretty well!

Too bad they weren't on that barf-ride in Pennsylvania that malfunctioned and wouldn't stop for 15 minutes

Now THAT could be on pay-per-view for $200 a shot.

Just be thankful they did not attempt a water slide together.

Nitro is a pretty good ride, and Paul did do pretty good, all things considered! Not much time for talking though. El Toro would have been funnier, though!

Oh no, people who have different beliefs than me! Insult! INSULT!!!

...why was it again that they turned off comments last week?

Because the Koch Brothers and other malefactors of great wealth want to silence dissent.

Is Sam Darnold the next Joe Montana?

No, but Josh Rosen is the next Peyton Manning.

Krugman is close to worthless as a prognosticator and your default should be to ignore everything he says. He understands the world so poorly that two years ago he said that the stock market and economy would crash when/if Trump was elected. It's hard to fathom how disconnected you have to be from multiple levels of reality to believe that a businessman, pro-regulation-cutting, pro-company-tax-cutting president will be bad for the economy or the stock market. Or even that presidents have that much economic negative power. You have to be unable to think or understand the world at a basic level to say something so stupid.

>Oh no, people who have different beliefs than me! Insult! INSULT!!!

This guy just perfectly described every Colbert episode, ever.

I really do love it when things like that happen. Thank you!!

It's just one idiot, actually

Not sure what you mean by "things like that" -- I suspect some lazy form of us-vs-them thinking and you've mistakenly pegged me as "them" -- but you are correct and late night talk shows are quite awful for the same reason.

Ahh but that's different. See when you make fun of someone and they don't like it, that just means they lack a sense of humor. it's totally civil to mock people if it's funny. Conservatives just can't take a joke.

It is too bad the ride ended before they could fully explore global free trade.

Interesting question: could there be any empirical results in the next 10 years that would cause Western orthodox macroeconomists to lose faith in global free-trade theories as applied to the US?

What if wages in the US stagnated for the next 10 years, but about doubled in China?

I have got to say, the snark: " I haven’t seen him so ready to throw up since he debated Ron Paul. "


Keep the company of those who seek the truth; run from those who have found it
Václav Havel

If you don’t win, it’s not a great tragedy – the worst that happens is that you lose a game. (If you can't feel pain, you're no longer aware - the reason that happiness was included)

“If you win, you need not have to explain...If you lose, you should not be there to explain!” (the wine of youth upanishad says beware of maxims)

If you win, you win everything!
(If you lose, you lose nothing.)

don't win/lose, be it's one if, if it's one be the wheel turns on. It spins now. Rush out from baby now like Joe body the wheel with its don't blink sign wager what don't touch the key down up you got to tell me hide in Memphis

I dislike a lot solemnity, that was so fun to watch.

Too bad the comments on the post "Thursday Assorted Link" are closed.
I find the link 6, an op-ed/blog post by Krugman on cryptocurrencies, excellent : extremely clear and well-argumented, more convincing that many things I have read on the future of bitcoin here or elsewhere. Krugman is always much better when he avoids politics (which is a rare event), and here, this is Krugman as his best.

Now I would be very interested to know the opinion of the wise commenters here, and our hosts, and this piece. Are you convinced?
What are the weakness of the argument (if any)?

I found the Krugamn crypto take to be thoughtful and well-written, and I can't stand the guy.

The farther one travels along the spectrum of politics to well grounded economic theory the more coherent Krugman gets.

He's a brilliant economist who gets paid to write level articles.

I still hold a grudge about him not conceding to Sumner though. He knows Scott is right.

Let's just say the economy has been on a roller-coaster for three decades, and just about every economist is ready to throw up.

Next up: bungee jumping without a rope.

Krugman's never ridden a roller coaster before? What a sad joyless childhood he must have had. A pity. I can't help thinking if he'd been allowed to feel the sense of liberty aroused by mindlessly screaming while riding downhill in a rickety cart his political views might have turned out differently.

Also, he's way too old to start riding now. You need a young person's stomach to avoid getting nauseous afterwards.

I'm kinda serious actually. Maybe roller coasters work like anti-risk-aversion brain training. It's all about learning to enjoy taking risks and being terrified, because hey, it's not really that dangerous. Wouldn't be surprised if there was some sort of statistical correlation between loving roller coasters and entrepreneurship.

lol why are they wearing a suit ?
Colbert is a genius

This segment is a perfect illustration of the failure of the TV medium; the failure of the 5 minute segment. There is literally no reason to watch this (I, of course, watched it.) and it feels just as bad as wasting oh i dk an entire hour on YouTube because at least that is truly tailored to your past clicks. I love Colbert, the person and personality; his show is stupid and so archaic.

the rollercoaster thing was cool.
nice suit. but you know you don't have to ride the rollercoaster just
because colonel corbert says you have to ride the rollercoaster

The absence of consensus among economists about business cycles stems, IMO, from oversight of the difference between process R&D and new-product R&D. The former is tightly constrained by prices and production signals emitted by lateral competitors; the latter is not.

Pretty good ride. The rollercoaster thing was cool.

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