I had the distinction of recently being nominated by UC-Berkeley economist Brad DeLong as the "stupidest man alive," but I'm in pretty good company with fellow c0-nominees NY Times science writer John Tierney and George Mason economist Don Boudreaux. It should be noted that John Tierney might be "stupid," but he is now a little richer thanks to his "stupidity," having just won a $5,000 bet on the price of oil. Perhaps my stupidity will pay off that handsomely someday?
It should also be noted that the first comment on Brad DeLong's post
is "It would be cruel of me to note that Boudreaux, Perry, and Tierney are at least looking at data. Stupidly, but they're looking at data."
"Let’s make a bet very much like the famous bet
that Julian Simon and Paul Ehrlich made in September 1980. Because of inflation, I propose that the wager be larger than the Simon-Ehrlich amount. How about $2,500? And I offer to you terms similar to those that Julian offered to Ehrlich. Like Ehrlich, you can choose whichever bundle of five or more raw materials you like, and choose which (professionally respected) means to be employed for adjusting nominal prices for inflation.
The bet will be for a duration of at least ten years, but no longer than 15 years. (You choose.) If I win (fat chance, I know, given the pinto beans I have for brains) you will contribute $2,500 (tax-deductible!) to the Department of Economics at George Mason University. If – er, when – you win, I’ll mail you a check for $2,500. Shall we wager?!"
MP: I'll stupidly also agree to this bet for an additional $2,500 if Professor DeLong accepts, and will also donate my winnings to the GMU Department of Economics, or send him a check for $2,500.