A few good sentences
Becoming an economist while denying the benefits, and beauty, of the overwhelming majority of markets that works, seems rather like becoming a physicist while refusing to believe in gravity.
2. Greg Mankiw on taxes:
[…] for the richest Americans — those in the top 0.01 percent of the distribution — the percentage of income derived from capital fell to 25 percent in 2004 from 70 percent in 1929.
If your image of the typical rich person is someone who collects interest and dividend checks and spends long afternoons relaxing on his yacht, you are decades out of date. The leisure class has been replaced by the working rich.
3. This one (from the comments) made me smile:
Q:Why do universities like mathematicians?
A:Because they’re cheap. They only need pencils, paper and a waste paper basket.
Q:Why do they like sociologists even more?
A: Because they don’t need the waste paper basket.
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