Wednesday, September 15, 2010

I'm sure we can all think up examples, but here's mine...

- "physicists" (the title of the cartoon is "Physicists") = Austrians
- "complicated system" = business cycle
- "simple object" = readjustment of capital structure
- "complications I just thought of" = policy uncertainty, hyper-inflation (oops), inflation (not hearing quite so much of this anymore), high interest rates (ummmm...), OK maybe a little price rigidity... MAYBE
- "your field": macroeconomics (all ex post story telling, after all! you only really need micro)

Before this explodes into a "you don't understand" or "you need to read more" gripe-fest, I just want to note that I am annotating a one panel stick figure cartoon, which believe it or not does not constitute a formal critique of... well of anything.

Other annotation suggestions?


  1. Try reading something next time.

  2. We're all glad you find time out of your busy day to oversimplify Austrian economics. It's not like ET assaults Keynesians just for the sake of it...

  3. 1. I was actually joking about Austrian ECONOMISTS, not Austrian economics. There's a big difference.

    2. I am annotating a stick figure cartoon - get over it.


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