Economics and Statistics

Lord Soley

I notice that one group of economists has come out in favour of the Labour Government’s approach to the international recession and another group has come out in favour of the Tory alternative. This also happened when Margaret Thatcher was Prime Minister and a statistician came out with the following:

He said (with a very straight face) “If all the economists in the world were laid down in a line around the equator – it would be a good thing”!

2 comments for “Economics and Statistics

  1. Carl.H
    22/02/2010 at 9:43 pm

    If all economists were laid end to end, they would not reach a conclusion.
    George Bernard Shaw
    Irish dramatist & socialist (1856 – 1950)

    The First Law of Economists: For every economist, there exists an equal and opposite economist.

    The Second Law of Economists: They’re both wrong.

    An economist is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today. – Laurence J. Peter

  2. Gareth Howell
    23/02/2010 at 9:28 am

    That may have been Alan Walters who died recently.

    Without the constant suggestion that the recession is ending from the superficial press and media, there would have been a good many suicides of those with overpriced residential properties bought in 2007.

    My own view is that the First Lord of the Treasury has managed the recession every bit as well he did the term of expansion from 1997-2008.

    Time to get out his walking boots now though.

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