We have 2 classes of forecasters: Those who don’t know . . . and those who don’t know they don’t know.
- John Kenneth Galbraith

Q: Why did God create economists?
A: In order to make weather forecasters look good.

An Economist is someone who didn’t have enough personality to become an accountant.

The First Law of Economists: For every economist, there exists an equal and opposite economist.

The Second Law of Economists: They’re both wrong.

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 change the bulb and one to assume the existence of ladders.

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.

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 5 years.