Reminiscence…

Q:Why did God create economists ?

A:In order to make weather forecasters look good.

OK, I have noticed that US readers were the biggest group on this blog so now that the French elections are over (well, still have the legislatives ones coming up in june), I shall try to write more English posts.

I am now reading the very informative and sometimes provocative Econoclaste blog and notice a link to a website I had discovered about 8 years ago, while in Classes Préparatoires in Dijon : this is the well-known Jokes about Economists and Economics. In my days in Dijon, a few fellow classmates and I found it so hilarious that we pinned extensive printouts of it on the classroom’s walls for the attention of our shy but sarcastic and passionate economics professor. He, with whom we would spend about 10 hours a week (please, show some compassion here), used to endlessly walk across the aisle of the classroom contemplating the ceiling and reflecting loudly on idiosyncratic 2d industrial revolution’s national patterns or Nash equilibrium while we would have cramps trying to take notes of all the details of this valuable Knowledge he was willing to deliver to us, ignorant students.

In that way, the printouts on the classroom’s walls soon became for us an appreciated pause in his physical and intellectual stroll, the time for him to read one or two jokes, sometimes to make a witty comment and for us to catch-up with the writing which we would only have the chance to properly understand later at night, while reviewing it.

Just one last one, I cannot resist it :

Value of human capital

Engineers and scientists will never make as much money as business executives. Now a rigorous mathematical proof that explains why this is true:

Postulate 1: Knowledge is Power.
Postulate 2: Time is Money.

As every engineer knows,

Work
———- = Power
Time

Since Knowledge = Power, and Time =Money, we have

Work
——— = Knowledge
Money

Solving for Money, we get:

Work
———– = Money
Knowledge

Thus, as Knowledge approaches zero, Money approaches infinity regardless of the Work done.
Conclusion: The Less you Know, the more money you Make.

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2 Responses to “Reminiscence…”


  1. 1 doncqueurs 08/05/2007 at 10:34 pm

    English is good! So I don’t need Google Trnaslations anymore!

  2. 2 idnca 08/05/2007 at 11:34 pm

    Jochem, how can it be that I need a password to access your blog ? Hmm, knowing you, I suspect you ask people to pay a weekly fee… ;)


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Let this diversity of opinions be propounded to, and laid before him; he will himself choose, if he be able; if not, he will remain in doubt. "Che non men che saver, dubbiar m' aggrata." ["I love to doubt, as well as to know."-- Dante, Inferno, xi. 93] for, if he embraces the opinions of Xenophon and Plato, by his own reason, they will no more be theirs, but become his own. Who follows another, follows nothing, finds nothing, nay, is inquisitive after nothing. "Non sumus sub rege; sibi quisque se vindicet." ["We are under no king; let each vindicate himself." --Seneca, Ep.,33]"
Montaigne - Essais I, XXVI, Of The Education of Children
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