I believe that economists put decimal points in their forecasts to show they have a sense of humor.

William Gilmore Simms' quote, "I believe that economists put decimal points in their forecasts to show they have a sense of humor," humorously critiques the precision often attributed to economic predictions. Simms is suggesting that while economists may appear to offer highly accurate and detailed forecasts, the presence of decimal points implies a level of uncertainty and imprecision in their work. The joke is that even with all the data and calculations, the use of decimal points in predictions often doesn’t make them any more reliable, and the humor lies in this inherent irony.

The quote also points to the common criticism that economic forecasts—despite their seemingly scientific and detailed nature—are often off the mark. By adding decimal points, economists give the illusion of exactitude, when in fact, economic predictions are fraught with unpredictable variables that can’t be perfectly measured. Simms is suggesting that the humor comes from the absurdity of trying to appear more precise when the reality is that the future is inherently uncertain.

Simms' remark implies a satirical view of the field of economics, implying that economists may use precision in their forecasts not to reflect reality but to create an illusion of control or understanding. The idea of humor here is rooted in the absurdity of making confident predictions about something as dynamic and variable as the economy. By exaggerating the role of decimal points, Simms highlights the disconnect between the certainty economists convey and the actual unpredictability of their predictions.

Ultimately, Simms' quote underscores the irony in assuming that we can predict the future with exact numbers, especially when dealing with something as complex as the economy. His humor calls attention to the limits of forecasting and challenges the credibility of overly precise economic predictions, while also playfully questioning whether economists use their predictions as a form of self-assurance or comedy in the face of inevitable uncertainty.