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An economist is a trained professional paid to guess wrong about the economy. An econometrician is a trained professional paid to use computers to guess wrong about the economy.
Talk is cheap. Supply exceeds Demand.
Bentley's second Law of Economics: The only thing more dangerous than an economist is an amateur economist!
Berta's Fundamental Law of Economic Rents.. "The only thing more dangerous than an amateur economist is a professional economist."
Definition: Policy Analyst is someone unethical enough to be a lawyer, impractical enough to be a theologian, and pedantic enough to be an economist.
Three econometricians went out hunting, and came across a large deer. The first econometrician fired, but missed, by a meter to the left. The second econometrician fired, but also missed, by a meter to the right. The third econometrician didn't fire, but shouted in triumph, "We got it! We got it!"
Q: How has French revolution affected world economic growth?
A: Too early to say.
Q: What do economists and computers have in common?
A: You need to punch information into both of them.
Q: Why does Treasury only have 10 minutes for morning tea?
A: If they had any longer, they would need to re-train all the economists.
Q: Did you hear of the economist who dove into his swimming pool and broke his neck?
A: He forgot to seasonally adjust his pool.
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.
Q: Why did the market economist cross the road?
A: To reach the consensus forecast.
Q: What does an economist use when calculating constant-dollar estimates?
A: Deflator mouse
Q: How many Chicago School economists does it take to change a light bulb?
A: None. If the light bulb needed changing the market would have already done it.
Q: How many mainstream economists does it take to change a light bulb?
A: Two. One to assume the existence of ladder and one to change the bulb.
Q: How many neo-classical economists does it take to change a light bulb?
A: It depends on the wage rate.
Q: How many conservative economists does it take to change a light bulb?
A: None. The darkness will cause the light bulb to change by itself.
Q: How many B-school doctoral students does it take to change a light bulb?
A: I'm writing my dissertation on that topic; I should have an answer for you in about five years.
Q: How many investors does it take to change a light bulb?
A: None - the market has already discounted the change.
Q: How many Keynesian economists does it takes to change a light bulb?
A: All. Because then you will generate employment, more consumption, dislocating the aggregate demand to the right.
Q: How many marxists does it take to sсrеw in a lightbulb?
A: None - the bulb contains within it the seeds of its own revolution.
When drawing up the guest list for a dinner party, inviting more than 25% economists ruins the conversation.
Economics is the painful elaboration of the obvious.
Q: How many economists does it take to change a light bulb?
A: Seven plus or minus ten.
Q: How many economists does it take to change a light bulb?
A: Irrelevant - the light bulb's preferences are to be taken as given.
Q: What's the difference between an economist and a befuddled old man with Alzheimer's?
A: The economist is the one with the calculator.
Q: What's the difference between economists and businessmen?
A: The first don't keep their feet on the ground; the latest use to keep their four feet in the ground
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 dark.
Q: Why did God create economists?
A: In order to make weather forecasters look good.
Q: What does an economist do?
A: A lot in the short run, which amounts to nothing in the long run.
Two economists meet on the street.
One inquires, "How's your wife?"
The other responds, "Relative to what?"
To an economist, real life is a special case.
Q: How many economists does it take to change a lightbulb?
A: Eight. One to sсrеw it in and seven to hold everything else constant.
Economists have forecasted nine out of the last five recessions.
When an economist says the evidence is "mixed," he or she means that theory says one thing and data says the opposite.
Econometrics is the art of drawing a crooked line from an unproved assumption to a foregone conclusion."
Q: Why has astrology been invented?
A: So that economy could be an accurate science.
A Blonde Guy walks into a bar very down on himself. As he walks up to the bar the bartender asks, “what’s the matter?”
The Blonde Guy replies, “well I’ve got these two horses (sniff, sniff), and well… I can’t tell them apart. I don’t know if I’m mixing up riding times or even feeding them the right foods.”
The bartender, feeling sorry for the guy, tries to think of something he can do.
“Why don’t you try shaving the tail of one of the horses?”
The man stops crying and says, “that sounds like a good idea, I think I’ll try it.”
A few months later he comes back to the bar in worse condition than he was before.
“What’s the matter now?” the bartender asks.
The Blonde Guy, in no condition to be in public, answers, “I shaved the tail of one of the horses (sob, sob), but it grew back and I can’t tell them apart again!”
The bartender, now just wanting him to shut up or leave says, “why don’t you try shaving the mane, maybe that will not grow back.”
He stops crying, has a few drinks, and leaves.
A few months later the guy is back in the bar.
The bartender has never seen anybody in this sorry of a state.
Without the bartender even asking the fellow breaks into his problems. “I.. I shaved the (sob) mane of one of the (sniff) horses, and… it… it… grew back!”
The bartender, now furious at the guy’s general stupidity, yells, “for crying out loud, just measure the sтuрid horses. Perhaps one is slightly taller than the other one!”
The guy cannot believe what the bartender has said and storms out of the bar.
The next day the Blonde Guy comes running back into the bar as if he had just won the lottery.
“It worked, it worked!” he exclaims.
“I measured the horses and the black one is two inches taller than the white one!”
Two priests were going to Hawaii on vacation and decided that they would make this a real vacation by not wearing anything that would identify them as clergy. As soon as the plane landed, they headed for a store and bought some really outrageous shorts, shirts, sandals, sunglasses, and etc. The next morning they went to the beach, dressed in their "tourist" garb and were sitting on beach chairs, enjoying a drink, the sunshine and the scenery when a "drop dead gorgeous" blonde in a tiny bikini came walking straight towards them. They couldn't help but stare and when she passed them, she smiled and said, "Good morning, Father"
- "Good morning, Father," nodding and addressing each of them individually, then passed on by. They were both stunned. How in the world did she recognize them as priests? The next day they went back to the store, bought even more outrageous outfits-these were so loud, you could hear them before you even saw them-and again settled on the beach in their chairs to enjoy the sunshine, etc. After a while, the same gorgeous blonde, wearing a string bikini this time, came walking toward them again. (They were glad they had sunglasses, because their eyes were about to pop out of their heads.) Again, she approached them and greeted them individually:
"Good morning, Father,"
"Good morning Father," and started to walk away. One of the priests couldn't stand it and said. "Just a minute, young lady. Yes, we are priests, and proud of it, but I have to know, how in the world did YOU know?"
"Oh, Father, don't you recognize me? I'm Sister Angela!"
Golden Retriever: The sun is shining, the day is young, we've got our whole lives ahead of us, and you're inside worrying about a sтuрid burned-out light bulb? Border Collie: Just one. And I'll replace any wiring that's not up to code. Dachshund: I can't reach the sтuрid lamp! Toy Poodle: I'll just вlоw in the Border collie's ear and he'll do it. By the time he finishes rewiring the house, my nails will be dry. Rottweiler: Go Ahead! Make me! Shi-tzu: Puh-leeze, dah-ling. Let the servants. . . . Lab: Oh, me, me!!! Pleeeeeeze let me change the light bulb! Can I? Can I? Huh? Huh? Can I? Malamute: Let the Border collie do it.. You can feed me while he's busy. Cocker Spaniel: Why change it? I can still рее on the carpet in the dark. Doberman Pinscher: While it's dark, I'm going to sleep on the couch. Mastiff: Mastiffs are NOT afraid of the dark. Hound Dog: ZZZZZZZZZZZZZZZZZZZZZZ Chihuahua: Yo quiero Taco Bulb. Irish Wolfhound: Can somebody else do it? I've got a hangover. Pointer: I see it, there it is, right there... Greyhound: It isn't moving. Who cares?