Macroeconomics could be tricky. You’ll always wonder whether to invest in gold or not, or if inflation is a good thing. And a roller coaster is the best classroom to learn about it, said Stephen Colbert, who invited Nobel laureate Paul Krugman to his late night show to understand macroeconomics without dozing off. “I think they (roller coaster rides) keep you awake even while learning about something as dry as macroeconomics,” he said.
And Paul Krugman took the challenge of explaining economics in “2 minutes and 4Gs” while riding the roller coaster for the first time. From investment tip on gold to learning about inflation — Stephen Colbert learnt it all. In summary: It seems like the economy is like a roller coaster in that it goes up, it goes down and occasionally makes me want to puke, he said.
Later Paul Krugman took to Twitter to talk about his experience. “Can’t believe I did this,” he wrote, adding that it was his first time and hopefully last time on a roller coaster ride.
By the way: it was indeed my first and I hope last time on a rollercoaster. I was feeling a bit sick afterwards, but apparently stayed coherent. And it was in a good cause …
— Paul Krugman (@paulkrugman) August 2, 2018
Paul Krugman is an American economist who won the Nobel Prize Economic Sciences in 2008 for his work on New Trade Theory and New Economic Geography, explaining the relationship between international trade and distribution of economic activities geographically. He is currently a professor at the Graduate Center of the City University of New York.