Economists in search of a new source of delightful humour should read some comments in the media’s online editions.
A happenstance started it all with me. Amid the welter of comments on the economy’s overall performance during Q1/14, one person invited me to give my views, which I promptly did, inevitably employing a couple of economic commonly-used terms. This is one comment I got back: “The public sector does not produce any wealth.”
Other recent examples: (1) the Minister of Finance ‘cheats’ when relating his projected Budget deficit to nominal, not real, GDP; (2) when interviewed by the Maltese-language media, why do you drop the ‘gross’ in describing Malta’s domestic product?; (3) in defending COLA as is, aren’t you totally disregarding ‘labour’s disutility theory’?