Curt Monash once reported: “I was standing with Ken Arrow by a bank of elevators on the ground floor of William James Hall at Harvard. Three elevators passed us on our way to the basement. I foolishly said ‘I wonder why everybody in the basement wants to go upstairs.’ He responded, almost instantly: ‘You’re confusing supply with demand.’”
Q: How many Chicago School economists does it take to change a light bulb? A: None. If the light bulb needed changing the market would have already done it.
Q: How many mainstream economists does it take to change a light bulb? A: Irrelevant – the light bulb’s preferences are to be taken as a given.
Q: How many central bank economists does it take to screw in a light bulb? A: Just one – he holds the light bulb and the whole earth revolves around him.
… about physicians …
Q: How many doctors does it take to change a light bulb? A: That depends on whether it has health insurance.
Q: Hoy many surgeons does it take to change a light bulb? A: None. They would wait for a suitable donor and do a filament transplant.
Q: How many veterinarians does it take to change a light bulb? A: Three. One to change the bulb and two more to complain that an M.D. makes ten times as much for the same procedure.
… about psychiatrists …
Q: How many psychiatrists does it take to change a light bulb? A1: One, but he must consult the DSM-IV. A2: Why does the light bulb necessarily have to change? A3: How long have you been having this fantasy?
… about psychologists …
Q: How many psychologists does it take to change a light bulb? A1: None. The light bulb will change itself when it’s ready. A2: Just one, but the light bulb really has to want to change. A3: Just one, but it takes nine visits.
Q: Who was Right: Pavlov or Freud? A: Unbeknownst to most students of psychology, Pavlov’s first experiment was to ring a bell and cause his dog to attack Freud’s cat.
Towards a General Theory of Justice: “As far as I’m concerned, they can do what they want with the minimum wage, just as long as they keep their hands off the maximum wage.”
Managerial Decision-Making: Science or Art? “Your background in creative decision-making is interesting, but we’re looking for someone with a strong background in creative order following.”
… and, perhaps inevitably, about health economists …
Unknown source. This is one of the oldest cartoons circulating among health economists.
“The drug itself has no side effects – but the number of health economists needed to prove its value may cause dizziness and nausea.”
… and about health care analysts
Unknown source – I found this cartoon in a presentation by Martin Buxton
“It may well bring about immortality – but it will take forever to test it.”
