Fiscal & Monetary Policy for Fun II

by Ali-Asad

A while ago, I posted about two online simulation games which brought to life the issues involved in managing an entire economy. Economist Greg Mankiw’s macroeconomics game brings together aspects of both fiscal and monetary policy to deliver a simple yet engaging game. Macro may not be the most loved college course, but today’s headlines are filled with talk of budget deficits, spending freezes and interest rates.



This game puts you in the thick of the action by giving complete control over the both fiscal and monetary aspects of managing an economy. The fiscal side entails managing taxes and government spending, as a % of GDP. You control monetary policy by adjusting money supply growth, which controls the rate at which new money gets printed - high money supply growth lowers interest rates (banks don’t need your money). This high money supply growth encourages borrowing (low interest payments) and promotes consumption but increases prices, and so causes inflation.

Just can't do better than FDR...

In this simulation, the focus is to keep the wider economy on track by making sure unemployment and inflation are low while keeping the economy growing. Your approval ratings let you see how well you’re doing but if they fall too low, it’s game over. External events can also influence the economy.

And that's jus' the tip.

A Future for Late Night TV

by Ali-Asad

The Leno-Conan saga may have caught our attention but it distracts from the the real long term shift in late night TV. Yes, I have seen the future of late night TV and it is Craig Ferguson. Whether he's eulogizing his father, flirting with Sandra Bullock or having an entertaining, spiritual conversation with the Archbishop Desmond Tutu (and don't forget the puppets and the snake cup), Ferguson is right at home on the Late Late Show.

I'm no TV critic but it's easy to recognize someone who's having fun and taking his audience along with him. Originally from Scotland, Ferguson tangled with serious substance and alcohol abuse well into adulthood. Always a comic at heart, Ferguson moved to America to pursue comedy; he wrote some movies, starred on the Drew Carey show, and eventually landed his 12:30am spot hosting The Late Late show following Letterman. What makes Craig Ferguson special is how he channels his life experience into almost every situation and yet but still keeps his comedic touch. Unlike most talk show hosts, he makes substantial contributions when interviewing his guests and avoids the predictable routine of guests promoting their latest movie/book/show etc; Ferguson rips up his note cards at the beginning of every interview as if to deliberately scorn the conventional talk-show interview.

After the Leno-Conan bust up, Ferguson stands to gain considerably since he appears the most likely successor to Letterman on the Late Show. But will his sense of humor translate in the more mainstream 11:30pm time slot? On the more mainstream and prestigious Late Show, he would not be able to mock CBS for his leaking studio, or faulty lights and hosting as a puppet may not fly. And while it may challenging to take quirky humor mainstream, this wee lad from Scotland has a real shot at it.

And that's the tip.

PS. Here's the 2 min. intro from the Desmond Tutu episode: