THE STANDUP ECONOMIST ON MACROECONOMICS.

THE STANDUP ECONOMIST ON MACROECONOMICS. Yoram Barzel, the standup economist, explained macroeconomics at a session of the American Economics Association annual meeting this year in Chicago. Here is a Youtube of it. There are a lot of in jokes for the economists in the audience. He summarizes Keynesian thinking as being about “animal spirits”—the animal spirits of those who make investments (which does not include the kind of “investment” that is made by somebody who buys a security). As a Keynesian, I acknowledge that that is a fair summary if you are only going to use two words.