60 v 20 Economists

[Fittster]

Is there any 'science' more useless economics?

They don't see a huge crash coming, they can't agree on how to get out of the mess. Why do people to have these people on their staff, they are clearly hopeless .

[ewenm]

It's not a science, it's a humanities subject.

[Puggit]

And the 60 economists happen to sign the letter just in time for Winky's big press conference

[ewenm]

At least there's some differentiation now. Before today both major parties were going to cut spending after the election, now Labour won't and Conservatives will. Personally, I'd rather not put another year's full debt onto our already monstrous total.

[fadeaway]

Puggit said:

And the 60 economists happen to sign the letter just in time for Winky's big press conference

Yeah, and it took them a whole week to round them up as well.

[Spiritual_Beggar]

1) How many economists does it take to change a light bulb?

Given 1,000 economists there will be 10 theoretical economists with different theories on how to change the light bulb and 990 empirical economists labouring to determine which theory is the “correct” one, and everyone will still be in the dark.

2) How many Keynesian economists?

All of them. Because then you will generate employment and more consumption, dislocating the aggregate demand to the right.

3) How many Chicago School economists?

None. If the light bulb needed changing , the market would have done it already.

4) How many mainstream economists?

Two. One to assume the existence of the ladder and one to change the bulb.

5) How many Marxists?

None - the bulb contains within it the seeds of its own revolution.



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.

Edited by Spiritual_Beggar on Friday 19th February 15:49

[Jasandjules]

Economics? Guesswork by those not good enough to become Geography teachers?

[audidoody]

HAs anyone ever heard of a rich economist?

[Mclovin]

and these were the great economists that didnt see the credit crunch coming.....

[ShadownINja]

Mclovin said:

and these were the great economists that didnt see the credit crunch coming.....

Same can be said for IFAs, politicians, estate agents etc ie people who the layman would think should know.

[anonymous-user]

Forecasting is NOT the main purpose of Economics.

[RacingPete]

I saw a presentation by the head economist for HSBC last year and it was the most amazing presentation anyone has done, though it did completely blame the government for the amount of borrowing they have burdened this country with.

I remember him being escorted in and out by burly security guards too, but a brilliant public speaker.

Though this is just one economist and thus I can't say anything for all of them. Oh and that freakonomics book is pretty good too, so I suppose some of them know a little.

[Mclovin]

their borrowing for the public sector no other reason, their not investing in the country therefore no growth will result and so cutting it will have zero impact on growth just prolonging the inevitable.....

[Jasandjules]

audidoody said:

HAs anyone ever heard of a rich economist?

There was a lady at my old bank who got I think £1.4 million as her bonus one year that I knew about(though her salary was about 1/10th of that figure) and she had an economics degree, does that count? (her job wasn't "economist" though)