Jokes in
Economics & about Economist
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An economist returns to visit
his old school. He's interested in the current
exam questions and asks his old professor to show
some. To his surprise they are exactly the same
ones to which he had answered 10 years ago! When
he asks about this the professor answers:
"the questions are always the same - only
the answers change!"
Economics is extremely useful
as a form of employment for economists.
A central banker walks into a
pizzeria to order a pizza.
When the pizza is done, he
goes up to the counter get it. There a clerk asks
him: "Should I cut it into six pieces or
eight pieces?"
The central banker replies:
"I'm feeling rather hungry right now. You'd
better cut it into eight pieces."
Reproduced below is an
Economist Joke that illustrates the separate
facilities solution to an externality problem.
Three guys decide to play a
round of golf: a priest, a psychologist, and an
economist.
They get behind a *very*
slow two-some, who, despite a caddy, are taking
all day to line up their shots and four-putting
every green, and so on. By the 8th hole, the
three men are complaining loudly about the slow
play ahead and swearing a blue streak, and so on.
The priest says, "Holy Mary, I pray that
they should take some lessons before they play
again." The psychologist says, "I swear
there are people that like to play golf
slowly." The economist says, "I really
didn't expect to spend this much time playing a
round of golf."
By the 9th hole, they have
had it with slow play, so the psychologist goes
to the caddy and demands that they be allowed to
play through. The caddy says O.K., but then
explains that the two golfers are blind, that
both are retired firemen who lost their eyesight
saving people in a fire, and that explains their
slow play, and would they please not swear and
complain so loud.
The priest is mortified; he
says, "Here I am a man of the cloth and I've
been swearing at the slow play of two blind
men." The psychologist is also mortified; he
says, "Here I am a man trained to help
others with their problems and I've been
complaining about the slow play of two blind
men."
The economist ponders the
situation-finally he goes back to the caddy and
says, "Listen, the next time could they play
at night."
A physicist, a chemist and an
economist are stranded on an island, with nothing
to eat. A can of soup washes ashore. The
physicist says, "Lets smash the can open
with a rock." The chemist says, "Lets
build a fire and heat the can first." The
economist says, "Lets assume that we have a
can-opener..."
Paul Samuelson
Q: What's the difference
between a finance major and an economics major?
A: Opportunity Cost
An economist, a philosopher, a
biologist, and an architect were were arguing
about what was God's real profession. The
philosopher said, "Well, first and foremost,
God is a philosopher because he created the
principles by which man is to live."
"Ridiculous!" said the biologist
"Before that, God created man and woman and
all living things so clearly he was a
biologist." "Wrong," said the
architect. "Before that, he created the
heavens and the earth. Before the earth, there
was only complete confusion and chaos!"
"Well," said the economist, "where
do you think the chaos came from?"
The First Law of Economists:
For every economist, there exists an equal and
opposite economist. The Second Law of Economists: They're
both wrong. pkm's existence theorem: for
every finite set of answers there exists an
infinite set of novel models
If all the economists were laid
end to end
a) it would be a good thing
b) they would be more
comfortable
c) they would never reach
conclusion
d) all of the above
e) none of the above
f) they would point in
different directions
Two economists are walking down
the street. One sees a dollar lying on the
sidewalk, and says so.
"Obviously not," says
the other. "If there were, someone would
have picked it up!"
PS. Replace the dollar with a
relevant research idea and you get a new
joke.
We have 2 classes of
forecasters: Those who don't know . . . and those
who don't know they don't know.
- John Kenneth Galbraith
"Murphys law of economic
policy": Economists have the least influence
on policy where they know the most and are most
agreed; they have the most influence on policy
where they know the least and disagree most
vehemently.
- Alan S. Blinder
An economist is an expert who
will know tomorrow why the things he predicted
yesterday didn't happen today.
- Laurence J. Peter
A study of economics usually
reveals that the best time to buy anything is
last year.
- Marty Allen
Having a little inflation is
like being a little pregnant--inflation feeds on
itself and quickly passes the "little"
mark.
- Dian Cohen
I don't think you can spend
yourself rich.
- George Humphrey
If all economists were laid end
to end they would not reach a conclusion.
- George Bernard Shaw
Practical men ... are usually
the slaves of some defunct economist. economist
- John Maynard Keynes
If you put two economists in a
room, you get two opinions, unless one of them is
Lord Keynes, in which case you get three
opinions.
- Winston Churchill
Shall I tell you the opinion of
a famous economist on jealousy? Jealousy is just
the fact of being deprived. Nothing more.
- Henry Becque
Stephen M. Goldfeld, in _The
Journal of Money, Credit and Banking_. November,
1984, p. 611: "An economist is someone who
sees something working in practice and asks
whether it would work in principle."
Economists don't answer to
questions others make because they know what the
answer is. They answer because they are asked.
There is also a joke about the
last Mayday parade in the Soviet Union. After the
tanks and the troops and the planes and the
missiles rolled by there came ten men dressed in
black.
"Are they Spies?"
Asked Gorby?
"They are
economists," replies the KGB director,
"imagine the havoc they will wreak when we
set them loose on the Americans"
The mathematician's child and
the economist's child were in the third grade
together, and the teacher asked, "If one man
with one shovel can dig a ditch in ten days, how
long would it take ten men with ten shovels to
dig the same ditch?" Both children raised
their hands.
The teacher said to the
mathematician's child, "Johnny, how
long?" and little Johnny v. said, "One
day, teacher."
The teacher looked at the
economist's child and said, "John Maynard,
is that right?"
Little John Maynard said,
"Teacher, it all depends."
Most of the following jokes
were forwarded to me by Russell Gum to whom I owe
a big thanks.
"Having a house
economist became for many business people
something like havinga resident astrologer for
the royal court: I don't quite understand what
this fellow is saying but there must be something
to it." Linden. (Jan. 11, 1993). Dreary Days
in the Dismal Science. Forbes. Pp. 68-70.
The following joke is a joint
invention of Preston McAfee, Phil Reny and
several so far anonymous writers.
Why God Never Received
Tenure at the University
1. Because he had only one
major publication.
2. And it was in Hebrew.
3. And it had no cited
references.
4. And it wasn't published
in a refereed journal or even submitted for peer
review.
5. And some even doubt he
wrote it himself.
6. It may be true that he
created the world but what has he done since?
7. His cooperative efforts
have been quite limited.
8. The scientific community
has had a very rough time trying to replicate his
results.
9. He never applied to the
Ethics Board for permission to use human
subjects.
10. When one experiment
went awry, he tried to cover it up by drowning
the subjects.
11. When subjects didn't
behave as predicted, he often punished them, or
just deleted them from the sample.
12. He rarely came to
class, just told students to read the book.
13. He had his son teach
the class.
14. He expelled his first
two students for learning.
15. Although there were
only ten requirements, most students failed his
tests.
16. His office hours were
infrequent and usually held on a mountain top.
A sure fire way to determine if
someone is an economist: Ask the suspect
"what's the difference between ignorance and
indifference?" If the reply is "I don't
know and I don't care" you can be pretty
sure its an economist. Now the only question is
what to do with him.
If an economist and an IRS
agent were both drowning and you could only save
one of them, would you go to lunch or read the
paper?
The National Institute of
Health (NIH) announced that they were going to
start using economists instead of rats in their
experiments. Naturally, the American Agricultural
Economics Association was outraged and filed
suit, but NIH presented some compelling reasons
for the switch:
1) NIH lab assistants become
very attached to their rats. This emotional
involvement was interfering with the research
being conducted. No such attachment could form
for an economist.
2) Economists breed faster.
3) Economists are much
cheaper to care for and PETA won't object
regardless of the experiment.
4) There are some things
even rats won't do.
However, it is difficult to
extrapolate test results to human beings.
How many economists does it
take to screw in a light bulb?
1. Just one, but it really gets
screwed.
2. One to prepare the
proposal, an econometrician to run the model, one
each MS and PhD students to write the theses and
dissertations, two more to prepare the journal
article (senior authorship not assigned), four to
review it, and at least as many to refine the
model and replicate the results.
A guy walks into a DC curio
shop. While browsing he comes across an exquisite
brass rat. "What a great gag gift" he
thinks to himself. After dickering with the shop
keeper over the price, the man purchases the rat
and leaves. As he's walking down the street, he
hears scurrying noises behind him. Stopping and
looking around, he sees hundreds, then thousands
of rats pouring out of the alleys and stairwells
into the street behind him. In a panic he runs
down the street with the rats not far behind. The
street ends at a pier; he runs to the end of the
pier and heaves the brass rat into the Potomac.
All of the rats scurry past him into the river
where they drown. After breathing a sigh of
relief and wiping his brow, the man heads back to
the curio shop, finds the shop keeper and asks,
"Do you have any brass
economists?"
TEN THINGS TO DO WITH A
GRADUATE ECONOMICS TEXTBOOK
1. Press pretty flowers.
2. Press pretty insects.
3. Use it as paper weight
on your already overcluttered desk.
4. Leave out in obvious
places to impress uninformed undergraduates.
5. Mail to the White House
as an intimidation tactic.
6. Give it a walk-on part
in a boring European existentialist play.
7. Just throw the damn
thing away.
8. Leave out for the rain
and other forces of nature to reckon with.
9. Read it (ha ha ha), and
weep.
10. Get a refund from
bookstore so you can buy weekend's beer
supply.
How can you tell when an
economist is lying?
His lips are moving.
Why won't sharks attack
economists?
Professional
courtesy.
Q: What do you get when you
cross the Godfather with an economist?
A: An offer you can't
understand.
Q: How many economists does it
take to change a light bulb?
A: Hell, you need a whole
department of them just to prepare the research
grant.
They say that Christopher
Columbus was the first economist. When he left to
discover America, he didn't know where he was
going. When he got there he didn't know where he
was. And it was all done on a government
grant.
Why do economists carry their
diplomas on their dashboards?
So they can park in the
(morally/intellectually) handicapped
parking.
A grade school teacher was
asking students what their parents did for a
living. "Tim, you be first. What does your
mother do all day?"
Tim stood up and proudly
said, "She's a doctor."
"That's wonderful. How
about you, Amy?"
Amy shyly stood up, scuffed
her feet and said, "My father is a
mailman."
"Thank you, Amy"
said the teacher. "What does your parent do,
Billy?"
Billy proudly stood up and
announced,
1. "Nothing. He's an
economist."
2. "My daddy plays
piano in a whorehouse." The teacher was
aghast and went to Billy's house and rang the
bell. Billy's father answered the door. The
teacher explained what his son had said and
demanded an explanation. Billy's dad said,
"I'm actually an economist. How can I
explain a thing like that to a
seven-year-old?"
A Berkeley economist died and
went to heaven (No, that's not the joke). There
were thousands of people ahead of him in line to
see St. Peter. To his surprise, St. Peter left
his desk at the gate and came down the long line
to where the economist was, and greeted him
warmly. St. Peter took the economist up to the
front of the line, and into a comfortable chair
by his desk. The economist said, "I like all
this attention, but what makes ME so
special?" St. Peter replied, "Well,
I've added up all the hours for which you billed
your consultation clients, and by my calculation
you're 193 years old!"
A Chicago economist died in
poverty and many local futures traders donated to
a fund for his funeral. The president of (the
Merc, the Board of Trade, etc.) was asked to
donate a dollar. "Only a buck?" said
the president, "only a dollar to bury an
economist? Here's a check; go bury 1000 of
them."
An economist and a physician
had a dispute over precedence. They referred it
to Diogenes, who gave it in favor of the
economist as follows: "Let the thief go
first, and the executioner follow."
What's the difference between
mathematics and economics?
Mathematics is
incomprehensible; economics just doesn't make any
sense.
A judge was hearing a
drunk-driving case and the defendant, who had
both a record and a reputation for driving under
the influence, demanded a jury trial. It was
nearly 4 p.m. and getting a jury would take time,
so the judge called a recess and went out in the
hall looking to empanel anyone available. He
found a dozen economists and told them that they
were a jury. The economists thought this would be
a novel experience (none had ever been at a trial
before, except as a defendent or an expert
witness) and followed the judge into the
courtroom. The trial was over in about 10 minutes
and it was very clear that the defendant was
guilty. The jury went into the jury-room, the
judge started getting ready to go home, and
everyone waited. After three hours, the judge
sent the bailiff into the jury- room to see what
was holding up the verdict. When the bailiff
returned, the judge said, "Well, have they
arrived at a verdict yet?" The bailiff shook
his head and said, "Verdict? Hell, Judge,
they're still doing nominating speeches for the
foreman's position!"
For three years, the young
assistant professor took his vacations at a
country inn. He had an affair with the
innkeeper's daughter. Looking forward to an
exciting few days, he dragged his suitcase up the
stairs of the inn, then stopped short. There sat
his lover with an infant on her lap! "Why
didn't you write when you learned you were
pregnant?" he cried. "I would have
rushed up here, we could have gotten married, and
the child would have my name!"
"Well," she said, "when my folks
found out about my condition, we sat up all night
talkin' and talkin' and we finally decided it
would be better to have a bastard in the family
than an economist."
Santa Claus, the tooth fairy, a
practical economist, and an old drunk are walking
down the street together when they simultaneously
spot a hundred dollar bill. Who gets it? The old
drunk, of course, the other three are
mythological creatures.
A Harvard economist had a
summer house in the Maine woods. Each summer he'd
invite a different friend (no, that's not the
punch line) to spend a week or two. On one
occasion, he invited a Czechoslovakian to stay
with him. They had a splendid time in the country
- rising early and living in the great outdoors.
Early one morning they went out to pick berries
for their morning breakfast. As they went around
the berry patch along came two huge bears. The
economist dashed for cover. His friend wasn't so
lucky and the male bear reached him and swallowed
him whole. The economist ran back to his car,
drove to town as fast has he could, and got the
sheriff. The sheriff grabbed his rifle and dashed
back to the berry patch with the economist. Sure
enough, both bears were still there. "He's
in THAT one!" cried the economist, pointing
to the male. The sheriff looked at the bears, and
without batting an eye, leveled his gun, took
careful aim, and SHOT THE FEMALE. "Whatd'ya
do that for?!" exclaimed the economist,
"I said he was in the other!"
"Yep," said the sheriff, "and
would YOU believe a economist who told you that
the Czech was in the Male?"
WASHINGTON DC GOVERNMENT
ECONOMIST HUNTING REGULATIONS AND BAG LIMITS
GENERAL
1. Any person with a valid
Washington DC hunting license or a Federal Income
Tax Return may harvest government economists.
2. Taking of economists
with traps or deadfalls is permitted. The use of
currency as bait is prohibited.
3. Killing of economists
with a vehicle is prohibited. If one is
accidentally struck, remove the dead economist to
side of the road and proceed to the nearest car
wash.
4. It is unlawful to chase,
herd, or harvest economists from limousines,
Mercedes Benz's, the Metro, or Porsches.
5. It shall be unlawful to
shout "research contract" or "I
need a policy consultant" for the purpose of
trapping economists.
6. It shall be unlawful to
hunt economists within 100 feet of government
buildings.
7. It shall be unlawful to
use decision memos, draft legislation, conference
reports, or RFP's to attract economists.
8. It shall be unlawful to
hunt economists within 200 feet of Senate or
House hearing rooms, libraries, whorehouses,
massage parlors, special interest group offices,
bars, or strip joints.
9. If an economist is
elected to government office, it shall be a
felony to hunt, trap, or possess it. It will also
be a shame.
10. Stuffed or mounted
economists must have a DC Health Department
inspection certificate for rabies and vermin.
11. It shall be illegal for
a hunter to disguise as a reporter, drug dealer,
pimp, female congressional aid, sheep,
legislator, policy maker, bookie, lobbyist, or
tax accountant for the purpose of hunting
economists.
BAG LIMITS
1. Econometrician: 2
2. Two-faced Policy Analyst: 1
3. Macro Policy Wonk: 4
4. Big-mouthed Populist: 2
5. Relevant Economist: EXTINCT
6. Cut-throat Administration Seeker: 2
7. Back-stabbing Senior Author: 2
8. Brown-nosed Deputy Kisser: 2
9. Silver-tongued Congressional Consultant:; $100
BOUNTY
10. Wise-assed CivilLibertarian: 7 11. Staff
economist: NO LIMIT
Given 1000 economists, there
will be 10 theoretical economists with different
theories on how to change the light bulb and 990
empirical economists laboring to determine which
theory is the *correct* one, and everyone will
still be in the darkk.
That's
all folks!
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