May 10, 2005
-- by Dave Johnson
A group of economists are walking to the faculty meeting, they see a 20 dollar bill lying on the sidewalk in the quad.Go read the rest.
The efficient market economist says "there can't be a 20 dollar bill there, otherwise it would have been picked up."
The monetarist says "Don't pick up that 20 dollar bill, if you do, that increases the velocity of money, which is inflationary."
The Keynesian economist says "Don't pick it up, someone who really needs it will."
Me, I be pickin up the money. Screw economists. By the way, how come the price of gas and housing has more than doubled in the last few years, but economists say "inflation is under control?"
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Yeah, I would like to know the answer to that bit of magic myself. Throw in health care costs. Up. Education costs? Up. Insurance costs? Way the fuck up? Construction costs? Way the fuck up.
I’ve been told by one Professor that “everything we DON’T need is down in price”. See Wal-Mart effect. Clothes, electronics, and so forth. But that does not add up to me. So what the fuck IS the answer? I don’t have a clue. Well, yes I do have a clue but no proof to back it up: Their cookin’ the fucking books. Just like they are cooking American democracy….in a slow pot of boiling water. “Watch your backs” is right.
Posted by: jon st at May 10, 2005 2:38 PM
And I would also like the answer to that question, Dave! Depends on what one includes in the 'basket of goods', I guess ..
Posted by: Helga Fremlin at May 10, 2005 5:24 PM
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