Cautionary Tales with Tim Harford

Buried by the Wall Street Crash (Classic)

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Apr 25, 2025
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ANECDOTE

UFO Cult's Surprising Reaction

  • The UFO cult waited anxiously for the aliens to save them at midnight in 1954.
  • When the aliens didn't appear, the believers surprisingly strengthened their faith and spread their message.
ANECDOTE

Economists Predicting the Future

  • Economists Irving Fisher and John Maynard Keynes tried to predict the future to succeed in the stock market.
  • Both failed disastrously during the Wall Street Crash but had different fates afterward.
ANECDOTE

Irving Fisher’s Ambitions and Investments

  • Irving Fisher was a multifaceted man: an economist, inventor, health fanatic, and millionaire.
  • He used leverage to invest heavily in American industry during the 1920s boom.
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