Wednesday, November 24, 2010

Monetary Policy Explained For The Layman

Courtesy of the Federal Reserve (click on pic for the link):



  1. Thanks, hishamh.

  2. Of Walla's links, I like the last one by Zarinah the most.

    Like they say, "economics is the painful and excruciating elaboration of the obvious".

    But the joke:
    Three econometricians went out hunting, and came across a large deer. The first econometrician fired, but missed, by a meter to the left. The second econometrician fired, but also missed, by a meter to the right. The third econometrician didn’t fire, but shouted in triumph, “We got it! We got it!”

    Guess you guys are immune to these, huh?

    On the Fed's comic book (I was actually anxiously scrolling down to see if any of the superheroes will appear..but no), scrolled down further and didn't see yr comments either.

    Take it that you don't find anything disagreeable in it.

    I on the other hand have much distrusts on the Feds.


  3. Best resource for economics jokes:

    Shoot away!

    I think many economists have a sense of humour, its just that the jokes tend to be rather obscure (as most of the jokes on that page show).

    Ref the comic, to be honest I didn't think it was completely accurate - all that talk about changes in reserves affecting the supply of credit is pure textbook stuff and not quite what actually happens on the ground. But apart from that and a couple of other points, its a relatively simple exposition of monetary economics, without getting into the math.