Tuesday, June 17, 2008

Economics Jokes of the day

here, via Megan McArdle. My favorite:

During the waning days of communism in the Soviet Union, an inspector was encharged with visiting local poultry farmers and inquiring about the amount of feed they were giving their chickens. Central planning was still in effect and each farmer was allocated 15 Rubles to spend on chicken feed.

One farmer very honestly answered that he spent five of the allocated 15 Rubles on chicken feed. The inspector took this to mean that the thieving farmer pocketed the other ten and promptly had him imprisoned.

Hearing of this through the rumor mill, the next farmer down the road insisted that he spent all 15 Rubles on food for the chickens. The inspector saw this as a case of budget padding and the farmer as a wasteful opportunist. He too was imprisoned.

The third farmer heard of both episodes and was more prepared for the inspector's arrival.

"How many of the 15 Rubles do you actually spend on chicken feed," asked the inspector.

Like a true nascent capitalist, the farmer threw his hands in the air and answered, "hey! I give 15 Rubles to the chickens. They can eat whatever they want!"
Unfortunately, with all the jabbering about cap-and-trade and windfall taxes, this joke is painfully closer to reality than I would like.

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