Economists Do It With Models

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Just For Fun: The Real Story Of Capitalism And Trickle-Down Economics…

June 23rd, 2011 · 1 Comment
Just For Fun

You will be pleased (or not) to know that I continue to find Mitt Romney amusing. From Gawker:

At one table, a boy offered Romney a $1 bill that he had folded origami-style for good luck. The candidate happily accepted it, but then rifled through his wallet looking for money to give the boy in return. Romney had a $100 bill, but evidently did not want to give that away. An aide handed him a $1 bill, but Romney said that wasn’t enough.

Then, deep inside his leather billfold, Romney found a $5 bill. “We’ll give you an Abraham Lincoln back,” he said, handing it to the boy.

See, this is, in large part, why money isn’t really supposed to be useful in and of itself- can you imagine what money supply chaos would ensue if people in general started pondering whether to use money to buy other stuff or to make origami birds? (This is one of the complications that arose when prison inmates started using cigarettes as currency.) On the other hand, the kid got a decent return on his investment. Apparently one of the commenters agrees with me:

See. This proves that trickle-down economics works. What people further down the income stream have failed to do – as supply-side economists have urged for years – is to make origami out of their money first; only then will the rich open the floodgates to their largesse. As Mitt Romney has shown us, the lesson here is that origami is the key to America’s economic renewal. He’s just secured my vote.

So THAT’s what we’ve been doing wrong all this time… =P

Tags: Just For Fun

1 response so far ↓

  • 1 Leo // Jun 23, 2011 at 4:36 pm

    Do economists use prisons to study the effects of different sorts of monetary policy given that changes in the “money supply” will be different in different prisons giving the possibility of semi controlled experiments?

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