We should have expected this - An economist should know that there's no such thing as a free lunch. However, Harvard University's Ernest E. Monrad Professor of Economics Martin Weitzman, recently got caught trying to steal a load of horse manure. I know, it's too easy, since folks outside the university view a lot of us faculty as being full of (well, you know...).
Click here to read the whole thing.
Something about this story seems to have tickled a few funnybones Imagine that). Among the blogs mentioning it are (with the best lines):
Truck and Barter: "An Ivy League economics professor, of all people, should know that a market economy is based on the principal of paying for goods and services."
The Liberal Order: "Obviously Weitzman calculated the costs and benefits of his actions and chose the option that maximized his utility"
Market Power:"I have one question. Why would Weitzman go out and find his own sh**? Isn't that what graduate assistants are for?"
Division Of Labor: "Where one Harvard economist allegedly gets the crap he spreads"
The Emirates Economist: "Why did he have to travel to a horse farm to find material that could be found at Harvard?"
All Intensive Purposes: "Perhaps his opening bid was too low."
My first thought was that Weitzman was confused between inputs and outputs.
Feel free to post your own line (snarky is better!)
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