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diamondgrl - 5:32 am on Feb 14, 2006 (gmt 0)
Milton Friedman and a graduate student were walking along the street and the graduate student cried out, "Look, there's a $20 bill on the ground." And Friedman replied, "If that really were a $20 bill, somebody would have taken it already." If you know nothing about the University of Chicago and economics, you probably won't find it in the least funny. But the basic idea that Friedman is trying to point out (in a comically extreme way) is that the marketplace will quickly adjust to stamp out any advantages from accidentally stumbling around. The high-dollar keywords are so well-mined that you'd be like those fools in the river bed panning for gold years after everybody else had found every nugget that could be found.
There's an economist joke that goes like this: