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| Respect for the past - there you have the thing that distinguishes the educated from the savage. (Alexander Pushkin) |
| Anecdotes about economists |
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NATURAL RATE OF UNEMPLOYMENT
Newlan's Truism: An "acceptable" level of unemployment means that the government economist to whom it is acceptable still has a job.
Did you hear of the economist who dove into his swimming pool and broke his neck?
He forgot to seasonally adjust his pool.
Q. What do economists and computers have in common ??
A. You need to punch information into both of them.
A mathematician, an accountant and an economist apply for the same job.
The interviewer calls in the mathematician and asks "What do two plus two equal?" The mathematician replies "Four." The interviewer asks "Four, exactly?" The mathematician looks at the interviewer incredulously and says "Yes, four, exactly."
Then the interviewer calls in the accountant and asks the same question "What do two plus two equal?" The accountant says "On average, four - give or take ten percent, but on average, four."
Then the interviewer calls in the economist and poses the same question "What do two plus two equal?" The economist gets up, locks the door, closes the shade, sits down next to the interviewer and says "What do you want it to equal?"
Economics is the only field in which two people can get a Nobel Prize for saying exactly the opposite thing.
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