Posted by Jonathan J. Miller -Friday, March 16, 2007, 11:27 AM
Yoram K. Bauman, an economist who teaches at the University of Washington and performs stand-up comedy, summed up an often-used line: ”Macroeconomists have successfully predicted nine of the last five recessions.”
He’s hilarious. It says a lot about the information that is pumped out into the public domain.
In college, the last question on my macro econ final was:
Which statement is true?
a. There is no such thing as a free lunch.
b. Look out or they’ll do it to you.
c. Them that has, gets.
d. All of the above.