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August 25, 2014

"Top 11 Funniest Papers in the History of Economics"

I'll vouch for #7 and, if you've attended an economics conference or two, #4

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Bruce McCullough

Siegfried's "A First Lesson in Econometrics" published in the JPE in the late 1970's is missing from the list.

Jack PQ

Good stuff, but #8 is obnoxious. Bauman asserts that financial innovation has increased market volatility as if it were self-evident. How do you know? (As Milton Friedman might have asked.)

As an economist, Bauman should know better--endogeneity strikes again. Financial innovation and market volatility are clearly linked, but which is cause and which is effect? It is intellectually dishonest to claim the answer is obvious without providing compelling evidence. Shame on him.

Patrick R. Sullivan

Stigler's should be replaced by his, 'A Sketch of the History of Truth in Teaching.'

David Friedman told me that when he'd assign it to a class, about half of his students didn't get the joke, and thought it serious.

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