Thursday, December 20, 2012

Betty!

For more then 30 years, I have heard Angus call himself "Betty."  (Nope, no more details.  Just trust me here.)

So, in honor of Angus, I made a video about externalities in which Betty figures prominently.  I am not a very attractive man, but it turns out I am a genuinely repulsive woman.




A credit:  I had never recognized the centrality of manners, and "moral" social norms in controlling externalities.  But my main man Russ Roberts pointed it out in editing this piece, and then doing this podcast, years ago.  So, a big post Festival of Lights shout out to RR:  when I say "Manners," I always think of YOU, big man!

UPDATE:  Sam Wilson, yes, of COURSE the model for Art is the Dub-MOE.  I even tried to get that vacant Pooh-bear expression down.  As for Carl....well, a guy needs SOME secrets. 

UPDATE II:  I don't mean to claim there is anything intellectually novel here, folks.  My good friend John Nye had a very nice piece, years ago, that makes the "knowledge problem" point way better in print.  And this recent post by Steven Landsburg did a nice job summarizing the issues, and the problems, of an arbitrary "starting point."  Oh, and Mario Rizzo, too.  I could go on, but the point is that I am sumarizing what a lot of people already know, but rarely gets taught when the subject of externalities comes up in basic micro courses.

9 comments:

Anonymous said...

Mole (he was called that in high school. Just trust me on that.): You were the funniest guy in 12th grade, and you're still cracking me up.

-JJ

Mungowitz said...

Jackie Blue! It's all true.... Mole it was, and will always be.

Sam Wilson said...

Please tell me they let you keep the wig.

Mungowitz said...

Sam, that's MY wig, and I'll wear it, for YOU, anytime.

Speedmaster said...

This is why Dr. Munger is my hero. I love the video, but Betty will haunt my dreams. ;-)

Angus said...

That is nice work. You know where to send my part of the royalties.

Eric said...

Well done! Except Betty's and Carl's facial expressions are more suited to the Alchian analogy that uses hotdogs, onions and passing gas.

Less Antman said...

If he calls himself Betty, does he call you Al?

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