This document provides a lighthearted overview of economics and economists through quotes and graphics. It summarizes that economics is often called the "dismal science" but makes many assumptions without proof. Economists are shown to sometimes make contradictory predictions and explain mistakes after the fact. They are depicted as working with an invisible hand to explain the past rather than predict the future. The document also humorously portrays two economists receiving a Nobel Prize for opposing views and economists as better at giving estimates than precise answers. It ends by comparing the salaries of different professions to suggest economics requires more practitioners to carry weight.

1. With Malice to None
A lighter view of Economics & Economists
Indraneel Bhowmik
Tripura University

2. Economics
………………dismal science
Man Goods &
Services
Economics
Choice Money
… is that science which studies human behaviour as a relationship
between ends and scarce means, that has alternative uses………..

3. Features
• …………………. is the painful elaboration of the obvious.
• Makes a lot of assumptions………………… without it, would be accounting
• Supply of ‘talk’ greater than demand
• Has a lot of external shocks
• Decisions about decentralisation often taken centrally…………
• A study usually reveals that the best time to buy anything is last year
• Business Cycles are often real……… but you cannot touch
• Trapped by Liquid
• ………… the only subject where two people can get a Nobel Prize for saying
exactly the opposite thing
• [Econometrics is...] the art of drawing a crooked line from an unproved
assumption to a foregone conclusion.
• ………………………An Employment Opportunity for the Economists

4. The Economist
• Works with the invisible hand…….
• Explains tomorrow ,why his forecast about today made
yesterday, went wrong….
• Real life is a special case
• Says a lot in the short run, which amounts to nothing in the
long run
• A mixed evidence means that theory says one thing and data
says the opposite
• Commonality with computers- need for punching information
• Can give estimates if asked for phone-numbers………..

5. The First Law of Economists:
For every economist, there exists an equal and opposite economist
The Second Law of Economists:
They're both wrong.
Economists are better solvers-
E.g- A mathematician, an accountant and an economist were asked
the same question "What do two plus two equal?" by the Boss
• The mathematician confidently replied “ Exactly Four.“
• The accountant said "On average, four - give or take ten percent, but
on average, four.“
• The economist coyly asked "What do you want it to equal"?

6. 3500
3000
2500
2000
1500
1000
500
0
Artists Philosopher Scientist Manager Economist
High not due to market demand but due to the greater
number required to get the requisite weight

7. No offences Meant
ECONOMICS
COMIC NOSE

8. Comments-ibtueco@hotmail.com