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#Cartoons on the bay 2012 series
The second part of the series covers macroeconomics, which builds on the foundations of microeconomics but attempts to answer completely different questions. However, he also shows how each of these problems can be solved, by taxing polluters or forming antitrust policies, which can be implemented only after understanding the limitations of the free market. He demonstrates how competitive forces in the market can cause huge turmoil-like monopoly prices, inequalities, and pollution. What’s commendable is that Yoram does not hold market forces to be the solution to everything. And in case you ever win the $20 million lottery, there’s an entire section on whether the smarter move is to take $10 million out right now or a $1 million annuity for the next 20 years. The first part of the series, which is on microeconomics, tackles every economist’s favourite guinea pig, the optimizing individual (as we all try to maximize our preferences), or, as Yoram puts it, “the selfish jerk.” The text explores whether Adam Smith’s invisible hand leads to the good of the group as a whole, game theory strategies, and how the lack of money is the root of all evil. As a former economics tutor, I know many intro econ students who would have loved to have a text like this to guide them as they explored a whole new way of thinking about the world. The book is unique because it translates economic gibberish into plain English, along with zany illustrations to help the reader grasp basic economic concepts. Yoram, who has a PhD in economics from the University of Washington and performs around the world as a stand-up economist, has written a two-part textbook on economics that will make you chuckle as well as contemplate. Ever since the historian Thomas Carlyle lumbered it with the tagline “the dismal science,” economics has had a reputation for the unpleasant, which is why creating cartoons about the subject seems like a crazy idea.