Sh*t happens: a birds eye view of economics

THIS is a very humorous and instructive (albeit PG rated) overview of economics.

Here are the super-summary notes:

1. Microeconomics: The price of sh*t is determined by supply and demand.

2. Macroeconomics: Oh, sh*t!

3. Keynesian economics: Sh*t happens because of animal spirits.

4. Neo-keynesian economics: This sh*t is sticky.

5. Neo-classical synthesis: Sh*t happens in the short run but not in the long run.

6. Behavioural economics: This sh*t is irrational.

7. Austrian school: Sh*t happens because of the fractional reserve banking system.

8. Pareto Improvement: Taking my sh*t is okay when I don’t give a sh*t.

9. Goldman Sachs: How did we end up with all this sh*t?

10. Greg Mankiw: You can read about this sh*t in my favourite text book!