I have a friend who is a professor of economics at Oxford. One of his students appears to have discovered an astounding new property of natural logs on an exam. It revolutionizes our understanding of, well, everything.
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July 02, 2009
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WTF? Anyway, what the hell is pi-sub-(t-1)? Besides ==pi, I mean. What the hell class was this, and what was the question?
Posted by: Bernard Guerrero | July 06, 2009 at 11:10 AM
Pi is shorthand for the inflation rate, and the subscript refers to time periods. (Sometimes you'll also see it used for profits, but in this case it's inflation.)
The student has unified space and time. Like many great discoveries, it seems obvious in retrospect.
Posted by: Noel Maurer | July 06, 2009 at 11:19 AM
Ah! I took it for the familiar mathematical constant and could not figure out what the heck it was doing in an econ exam, or why somebody expected it to vary over time. Duh.
Posted by: Bernard Guerrero | July 06, 2009 at 12:08 PM