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To: Didi who started this subject	9/8/2001 10:02:34 PM
From: Didi	of 31

>>>There are two types of economists: - those who cannot forecast interest rates, and - those who do not know that they cannot forecast interest rates. ---------------------- How economists do it... Economists do it cyclically. Economists do it on demand. Economists do it with models. Economists do it with crystal balls ------------------------------- How many economists does it take to change a light bulb? None. If it really needed changing, market forces would have caused it to happen. None. If the government would just leave it alone, it would screw itself in. None. The invisible hand does it. Two. One to assume the existence of ladder and one to change the bulb. Eight. One to change it and seven to hold everything else constant. One to prepare the proposal, an econometrician to run the model, one each MS and PhD students to write the theses and dissertations, two more to prepare the journal article (senior authorship not assigned), four to review it, and at least as many to refine the model and replicate the results. <<<

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