Irving Fisher: His legacy has suffered a dramatic depreciation
Tim Harford came to the Prospect offices for the first in our series of talks with Little, Brown to discuss how economists rise and fall, illustrated by the tale of John Maynard Keynes and his contemporary Irving Fisher. Both men were caught out by the Wall Street Crash of 1929. But while Fisher was discredited and his career went into a “death spiral,” Keynes recovered and triumphed, both as an investor and an economist.
In his short lecture and a Q+A with Prospect‘s Managing Editor Jonathan Derbyshire, Harford went beyond his central theme to touch on housing, inequality, and the nature of risk and uncertainty.