Thursday, February 19, 2009

Futile Action

Shortly after class, an economics student approached his economics professor and said, "I don't understand this stimulus bill. Can you explain it to me?"

The professor replied, "I don't have any time to explain it at my office, but if you come over to my house on Saturday and help me with my weekend project, I'll be glad to explain it to you." The student agreed. 

At the agreed upon time the student showed up at the professor's house. The professor stated that the weekend project involved his backyard pool. They both went out back, and the professor handed the student a bucket. Demonstrating with his own bucket, the professor said, "First, go over to the deep end, and fill your bucket with as much water as you can. The student did as he was instructed.

The professor then explained that they were going to do this many more times, and began walking back to the deep end of the pool. The confused student asked, "Excuse me, but why are we doing this?" The professor matter-of-factly stated that he was trying to make the shallow end much deeper. 

The student didn't think the economics professor was serious, but figured that he would find out the real story soon enough. However, after the sixth trip between the shallow end and the deep end, the student began to fear that his economics professor had gone crazy. The student finally exclaimed, "All we're going is wasting valuable time and effort on unproductive pursuits. Even worse, when this process is all over everything will be exactly as it was before, so all you've really accomplished is the destruction of what could have been a truly productive action!"

The professor put down his bucket and replied with a smile. "Congratulations! You now understand the stimulus bill!"

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