Economical JOW *432

What with all the tough economic times folks seem to be having these days, I thought some humor about things economic might be appropriate. Economists and economics in general are pretty rich subject. The statement that "Economics is the only field in which two people can each get a Nobel Prize for saying the opposite thing" is true. In fact, that understates it: Myrdal and Hayek actually shared a Nobel Prize for saying opposing things.

Found on the wall of a Lehman Brothers executive
Seven Habits of Big Time Investors
1. Think short term.
2. Be greedy.
3. Believe in the Greater Fool
4. Run with the herd
5. Overgeneralize
6. Be trendy
7. Play with other people's money

I just love light bulb jokes
Q: How many conservative economists does it take to change a light bulb?
A1: None. The darkness will cause the light bulb to change by itself.
A2: None. If it really needed changing, market forces would have caused it to happen.
A3: None. If the government would just leave it alone, it would screw itself in.
A4. None. "There is no need to change the light bulb. All the conditions for illumination are in place.
A5. None, because, look! It's getting brighter! It's definitely getting brighter !!!
A5. None; they're all waiting for the unseen hand of the market to correct the lighting disequilibrium.

Q: How many Trotskyists does it take to change a lightbulb?
A: None. Smash it!

Q: How many Marxists does it take to screw in a lightbulb?
A: None - the bulb contains within it the seeds of its own revolution.

Q: How many 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 5 years.

Q: How many recently graduated MBAs does it take to change a light bulb?
A: Only one, if you hire me. I can actually change the light bulb by myself. As you can see from my resume, I've had extensive experience changing light bulbs in my previous positions. I am presently a teaching assistant for Light Bulb Management 666. My only weakness is that I'm compulsive about changing light bulbs in my spare time.

Some economist jokes (other than the economy itself)
An economics professor was about to get married. He went to the jewelers to get a wedding ring for his fiancée. The jeweler told him that he can have the inside of the ring engraved with the name of his fiancée for an additional $200.
"But that will reduce the resale value!" protested the professor
The jeweler was aghast. "How can you say such a thing. You are a butcher!"
"No," replied the professor, "I am an economist"."

A wealthy labor economist had an urge to have grandchildren. He had two daughters and two sons and none of them had gratified his desire for a grandchild. At the annual family gathering on Thanksgiving Day, he chided them gently to bless his old age with their progeny. "But I haven't given up hope," he said, "Yesterday I went to the bank and set up a one hundred thousand dollar trust fund to be given to the first grandchild that I have. Now we will all bow our heads while I say a prayer of thanks." When he looked up, he and his wife were the only ones at the table.

An economist was standing at the shore of a large lake, surf-casting. It was the middle of winter, and the lake was completely frozen over, but this didn't seem to bother the economist, who stood there patiently casting his lure out across the ice, slowly reeling it in again, then repeating the process.
A mathematical economist came sailing by on an ice boat, and pulled to the shore beside the surf-fishing economist to scoff. "You'll never catch any fish that way," said the mathematical economist. "Jump on my ice-boat and we'll go trawling."

An Indian-born economist once explained his personal theory of reincarnation to his graduate economics class. "If you are a good economist, a virtuous economist," he said, "you are reborn as a physicist. But if you are an evil, wicked economist, you are reborn as a sociologist."