An economist and a normal person are walking down the street together. The normal person says “Hey, look, there’s a $20 bill on the sidewalk!” The economist replies by saying “That’s impossible- if it were really a $20 bill, it would have been picked up by now.”
This comment is fantastic. I laughed out loud. The ivory tower exists for conservatives and liberals. And the Chicago comment is on point.
I heard someone from U of Chicago School of Economics make the case that Payday lenders should not exist. If you go to U of C you'd know they do exist and they're about 1/4 of a mile off campus if you just left and looked around.
