50 Things That Made The Modern Economy

With Tim Harford

We economists have an image problem.

People think we shamelessly massage statistics.

We overconfidently make terrible predictions.

We're no fun at drinks parties.

That kind of thing.

Perhaps some of the blame lies with the man who, a century ago,

was probably the most famous economist in the world.

His name, Irving Fisher.

It was Fisher who notoriously claimed in October 1929

that the stock market had reached a permanently high plateau.

Nine days later came the crash that led to the Great Depression.

As for parties, the best that can be said for Fisher

was that he was a generous host.

One denigest wrote,

While I ate right through my succession of delicious courses,

he dined on a vegetable and a raw egg.

Fisher was a fitness fanatic who avoided meat, tea,

coffee and chocolate.

Fisher, of course, didn't drink alcohol.

But he also thought nobody else should drink alcohol either.

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