I’m firmly in ultrafilter’s camp. I find this discussion rather odd, because at many schools, mathematics is a liberal art. (I could have gotten either a BA or a BS.) On the other hand, Economics is not necessarily a liberal arts degree. That aside, my advice is to study what you enjoy. There is time enough later in life to do things solely for economic considerations. Very few people spend their whole career in the same field as their major. If nothing else, most of us end up being some kind of manager.
Frankly, the economic benefits of liberal arts degrees and other degrees is a matter of perception - but perception is reality. CrankyAsAnOldMan appears to hold one common belief - that most math majors are poor writers. I haven’t found that to be true; I have found that perception to be common. More accurately, many people assume math majors are a form of engineer, which is distinctly not true. Whatever you pick, be aware that it is the perception of the interviewer that matters. I couldn’t believe how hard it was to convince engineers that physicists can actually do things.
I differ from toadspittle in that it is my experience that those earning what I call vocational degrees - art, engineering, park and rec, programmers, journalism - tend to have weaker all around skills then those earning what I call educational degrees - history, physics, archeology. The latter rarely need any job specific training outside of the fields covered by the vocational degrees (exactly how does “business math” differ from elementary math?), while the former degrees are almost required to get started in their particular fields (go ahead, try to design circuits with a math degree). Of course, the field in which particular majors tend to be weak depends on the particular major. Almost all engineers have good math skills, hardly any artists do. On average, neither can write worth a damn. (In my job, I have to deal with engineers and programmers attempting to write. :eek:)
If you don’t know what major to pick, because several interest you, I would start in the major requiring the most courses common to your other choices. Because math and science majors tend to take a strong liberal arts core, owing to the fact that they are/were liberal arts, I would start there. My dad, a biologist, gave me that advice, when I couldn’t pick between biology and physics.
FYI, I majored in both math and physics, and yet graduated with honors in world literature. I am now a combination programming guru and manager.