I was reading David Smith’s piece in the Business Section of The Sunday Times yesterday, in which he speculates on how the economy might evolve as a result of the pandemic, it is a little long to reproduce here but I thought you might like the rather droll Economist ‘jokes’ with which he finished it.
“This had better be my last week for economist jokes, not because the well is running dry, far from it, but because other people, notably accountants, management consultants and actuaries, are feeling left out. I am prepared, however, to continue the series for them, if readers can provide enough material.
To get you in the mood, one that provides a neat handover: “What’s the definition of an economist? Someone who found accountancy too exciting.”
Anyway, back to my final flurry. Professor Iain Begg and others offered this. Three people are in a hot air balloon and get lost on a foggy day. They shout to a passer-by on the ground: “Where are we?” The passer-by shouts back: “In a balloon.” “Ah,” say the balloon travellers, “you must be an economist, because what you said was precisely correct but totally unhelpful.”
Giles Johnson of CIL offered Walter Heller’s observation that an economist is someone who observes something working in practice and wonders whether it will work in theory, and also a variation of the desert island joke. Two economists are stranded on a desert island and make millions over the next few years selling their hats to each other.
Max Good provided the most suggestions, such as Paul Samuelson (or was it Thomas Carlyle?) claimed to have trained a parrot to answer every question in economics by squawking just three words — demand and supply. Also, the Japanese car firm Nissan used to be known as Datsun. When a mishap befell a cargo plane bringing parts to Britain, it was said to be raining Datsun cogs. He also recounts the possibly apocryphal story of a lunch between Donald Stokes, chairman of British Leyland, and Tony Benn, industry secretary in the 1970s, that sealed the car giant’s nationalisation. At the end, Benn says: “Thank you for your company.”
That’s it, apart from Peter Spencer’s reminder of the economic statistician who is broken down by age and sex. I’ll be here all month.”
david.smith@sunday-times.co.uk
If you would like to read the whole thing here is the link https://www.thetimes.co.uk/article/the-economy-will-be-different-but-will-it-be-better-88930llff).
As always, please do feel free to call me at any time to discuss anything that might be concerning you.
With best regards,
Yours sincerely
Graham Ponting CFP Chartered MCSI
Managing Partner
