I am not an economist

I am not an economist. I know—shocking. In fact, not many people are economists. There were only 14,600 of them 2008 (about a tenth of the “writers” population), according to the Bureau of Labor Statistics (as a point of interest, the BLS Web site says the average economist employed by the government made $108,010 last year—more than twice the average salary of us “writers.” Prof. Luecke, you’re my advisor: is it too late to change my major?).

But seeing as so few of us are economists (and are now kicking ourselves) and actually understand financial markets and what happened over the last 18 months, there’s a new phenomenon I’d like to highlight: YouTube. Now anyone with Internet access can call themselves a novice economist. These guys break it down simply, humorously and (often) with song. And everyone likes a good song. Call it Schoolhouse Rock for the new generation. Here’s my top three picks:

"Bailout"
Meet “Merle Hazard,” a real-life financial advisor from Nashville. Like any good Nashvillian, he’s also a musician, but not one who leaves his day job at the office at 5 p.m. Here he breaks down the bailout with a country twang.

"The Financial Crisis...Simplified"
Unsure what happened over the past few years? This guy (Hank) breaks down the sub-prime mortgage crisis for us. It’s straightforward, cynical and involves many hats—all keys to greatness in my opinion.

"'Fear the Boom and Bust' a Hayek vs. Keynes Rap Anthem"
This one was recently on NPR’s “All Things Considered” so I can’t take credit for finding it. In a style reminiscent of The Lonely Island, George Mason University economist Russ Roberts and Spike TV (yes, that man channel) producer John Papola rap about the “boom and bust” of the economy as economists John Maynard Keynes and F. A. Hayek. It got the OK from Ke$ha, so it’s OK in my book too.

"Walkin' on Wall Street"
And one more just because I referenced Schoolhouse Rock. It’s necessary to have this one on the list. Here’s a very elementary look at stocks. YouTube: Because us laypeople deserve to know about economics too.

--Stephanie Hardiman