Irving Fisher’s Progeny and the 2008 Financial Crisis
Journal of the History of Economic Thought, Vol. 35, No. 2., pp.185-197, June 2013
15 Pages Posted: 10 Jul 2013
Date Written: June 2013
Irving Fisher believed in evidence-based decision making. This paper considers how three aspects of Fisher’s methodology could be useful now in the quest to deal with U.S. financial instability: (1) his institutional approach; (2) his efforts to use index number theory as a means to improve official statistics data; and (3) his interest in automating aspects of data analyses. The paper concludes with a call to action for Fisher’s progeny. Actions to solve U.S. financial instability are surely the most fitting possible tribute to Irving Fisher.
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