A Short Explanation About Yesterday’s Video

Economists, and students of economics, are fond of using the quote “In the long run, we’re all dead”, attributed to John Maynard Keynes.

Except, the quote wasn’t used (at all) by Keynes in the spirit in which it is often quoted by folks today – the exact opposite, in fact.

But when we do talk about the long run, we economists (or students of economics) would do well to understand that there are many definitions of the long run. And in the longest run of all, yes, we are all well and truly dead.

And that’s one of the reasons behind choosing that video yesterday. Also, a tip that I myself learned only recently: tapping on the right of the screen on your phone in the YouTube app fast forwards the video by ten seconds, and pressing “L” on the keyboard has the same effect on your computer.

Thanks to the reader who pinged asking about it!

Leave a Reply