Quote of the Day- Economists are not boring

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“Incentives do matter, although the obsession of many economists with this idea can become tedious. It is important to stop short of the barmy extremes of some Chicago economists – who would get married to derive economies of scale in household production and commit suicide when the net present value of future utility becomes non-positive (after allowance for the value of future options to commit suicide, calculated using the Black-Scholes formula). They discredit the profession as much as the “up and down” economists do. The ordinary business of life must keep some room for love and soul.”

-John Kay, of whom I commented in this post- Armchair Economics Reading List

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Being economist will surely wont give you any boredom moments. Amazing that you will have to plan out and see things good for your future, handle money wisely and how to make improvements in the society. - Dennis Wong


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This page contains a single entry by Paul published on May 11, 2006 11:34 PM.

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