Monday, May 23, 2011

I can't get no satisfaction

From yesterday's post:

That's the number one most popular debt graph at FRED today:
Federal Government Debt: Total Public Debt (GFDEBTN)... The units are Mar Jun Sep Dec, End of Month, which I will call MJSD going forward.

From Mankiw:

Never make up your own acronyms.

You're kidding, right?

I have MJSD... I have DPD (debt per dollar)... I have MRTO (money relative to output)... I have EROC (excessive reliance on credit)... I have TOT (totally off topic)... I even have CAPUT (capacity utilization) though I cannot be the first guy to think of that one.

If you are satisfied with economics as it is today, then you have no need for new acronyms. But if you have an original thought, and you keep coming back to it, and every time you do it grows in significance, and if you have already reduced the thought to a single phrase that you use often, then maybe it is time to adopt an acronym.

If the world adopts your acronym, then your original thought was a good one.

Dunno, maybe Mankiw is satisfied with economics as it is today.

1 comment:

The Arthurian said...

I have FCM, the Factor Cost of Money.

I have PAIR, the Proxy Average Interest Rate, used to develop the FCM.