A boy was crossing a road one day when a frog called out to him and said, “If you kiss me, I’ll turn into a beautiful princess.” He bent over, picked up the frog and put it in his pocket.
[Econometrics is…] the art of drawing a crooked line from an unproved assumption to a foregone conclusion. — Peter Kennedy, A Guide to Econometrics (MIT Press, 1992)
Economists have forecasted 9 out of the last 5 recessions.
Two government economists were returning home from a field meeting. As with all government travelers, they were assigned the cheapest seats on the plane so they each were occupying the center seat on opposite sides of the aisle. They continued
On seeing the overflow crowd that showed up for his lecture at the University of Illinois: All the great events in life are characterized by crowding. — John Kenneth Galbraith
If you laid all the economists in the world end to end, they would never reach a conclusion. — Source unknown Variant: If you laid all the economists in the world end to end, they’d point in all directions. —