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Marriage And Divorce Odds

It is often cited that there are half as many divorces as marriages in the US, so one concludes that average marriages have a 50% chance of ending by divorce. While I was a graduate student, among my peers there were twice as many divorces as marriages, leading us to conclude that average marriages would end twice...

Economic Computer Viruses

Economic computer viruses:

  • INTEREST GROUP ECONOMIST VIRUS - Divides your hard disk into hundreds of little units, each of which does practically nothing, but all of which claim to be the most important part of the computer.
  • ECONOMETRICIAN VIRUS - Sixty percent of the PCs infected will lose 38 percent of their data 14 percent of the time (plus or minus a 3.5 percent margin of error).
  • POLITICAL THINK TANK ECONOMIST VIRUS - Doesn't do anything, but you can't get rid of it until next election.
  • GOVERNMENT ECONOMIST VIRUS - nothing works on your system, but all your diagnostic software says everything is just fine.
  • MARXIAN ECONOMIST VIRUS - Helps your computer shut down whenever it wants to.
  • SOVIET ECONOMIST VIRUS - Crashes your computer, but denies it ever happened.
  • MAINSTREAM ECONOMIST VIRUS - It claims it feels threatened by the other files on your PC and erases then in "self-defense."
  • CENTRAL BANK ECONOMIST VIRUS - Makes sure that it's bigger than any other file.
  • MULTINATIONAL CORPORATION ECONOMIST VIRUS - Deletes all monetary files, but keeps smiling and sending messages about how the economy is going to get better.
  • SUPPLY SIDE ECONOMIST VIRUS - Puts your computer to sleep for four years. When your computer wakes up, you're trillion more dollars in debt.
  • NEW ECONOMY VIRUS - Also known as the "Tricky Dick Virus." You can wipe it out, but it always makes a comeback.
  • ENVIRONMENTAL ECONOMIST VIRUS - Before allowing you to delete any file, it first asks you if you've considered the alternatives

Economics Versus Astrology

An econometrician and an astrologer are arguing about their subjects.

The astrologer says, "Astrology is more scientific. My predictions come out right half the time. Yours can't even reach that proportion".

The econometrician replies, "That's because of external shocks. Stars don't have those".

Equation of Earnings

The Equation

Engineers and scientists will never make as much money as business executives. Now a rigorous mathematical proof has been developed 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:
Money = Work / Knowledge

Thus, as Knowledge decreases, Money increases, regardless of how much Work is done.

Conclusion: The Less you Know, the More you Make.

Note: It has been speculated that the reason why Bill Gates dropped out of Harvard's math program was because he stumbled upon this proof as an undergraduate, and dedicated the rest of his career to the pursuit of ignorance.

Why Fire Engines Are Red

There are four wheels and eight men on a fire engine.
Four and eight makes 12.
There are 12 inches in a ruler.
Queen Elizabeth is a ruler.
The Queen Elizabeth was a ship.
Ships sail in the sea.
The sea has fish.
Fish have fins.
The Finns are always fighting the Russians.
Russians are known as "red".
Fire engines are always rushin', and that's why they're red.

Three Times Seven

Kowalski, fresh out of accounting school, went to a interview for a good paying job. The company boss asked various questions about him and his education, but then asked him, "What is three times seven?"

"Twenty-two," Kowalski replied.

After he left, he double-checked it on his calculator (he knew he should have taken it to the interview!) and realized he wouldn't get the job.

About two weeks later, he got a letter that said he was hired for the job! He was not one to look a gift horse in the mouth, but was still very curious.

The next day, Kowalski went in and asked why he got the job, even though he got such a simple question wrong. The boss shrugged and said, "Well, you were the closest."

Honeymooned

A young couple from the country honeymooned at a really fancy ocean-side resort. Because they knew it would be expensive, they had planned to limit their stay to just the weekend, but were just unable to leave, enjoying themselves and each other so much, and extended their stay another day. Upon checking out, the desk clerk said, "That'll be an additional $150 apiece."

"Good God man !!!" cried the groom, totally shocked, "That's two thousand two-hundred and fifty dollars !!! Are you crazy ???"

Math One-Liners

Math problems? Call 1-800-[(10x)(13i)^2]-[sin(xy)/2.362x]. If parallel lines meet at infinity - infinity must be a very noisy place with all those lines crashing together!

- Maths Teacher: Now suppose the number of sheep is x...

- Student: Yes sir, but what happens if the number of sheep is not x?

Zenophobia: the irrational fear of convergent sequences.

Philosophy is a game with objectives and no rules. Mathematics is a game with rules and no objectives.

If I had only one day left to live, I would live it in my statistics class: it would seem so much longer.

Economics Ruins Life

Economics is ruining your life when...

  • I tried to calculate my 3 year old son's discount rate by seeing how many sweets he would require to be promised to him after dinner to be equivalent to one sweet before dinner
  • I spent one hour in a toy shop making up over 20 bundles of toys that could be purchased for $25 and then asked my son to select one of these bundles

The Spell Checker

The following is supposedly a true story.

An economist was about to give a presentation in Washington, DC on the problems with Black-Scholes model of option pricing and was expecting no more than a dozen of government officials attending.

To his amazement, when he arrived, the room was packed with edgy, tough-looking guys in shades. Still, after five or so minutes into the presentation all of them stood up and left without a word.

The economist found out only later that his secretary ran the presentation through a spell-checker and what was "The Problem with Black-Scholes" became "The Problem with Black Schools".