Monday, June 14, 2010

Great Economics Jokes! (No, that is not one of the jokes)...

Economics jokes! At the margin, they are REALLY funny!! :) Also, see video at the end from a bonified Economics Comedian (no, not an oxymoron) Caution: Some are "inside baseball"...HT: Economists Do It With Models (yes, that is the name, visit it!!)

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 screw in a lightbulb?
A: None - the bulb contains within it the seeds of its own revolution.

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.

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: How many economists does it take to change a lightbulb?
A: Eight. One to screw it in and seven to hold everything else constant.

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