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One recent history of economic thought (Jürg Niehans's A History of Economic Theory) devotes twenty-four pages to Samuelson's ideas. Adam Smith only gets thirteen. Samuelson's work on stock markets and the random walk takes up less than two of those twenty-four pages. He was the last generalist in economics, as he liked to say, and for him financial market studies were just a side project that he at times seemed deeply ambivalent about. His intervention was, however, crucial to the triumph of the random walk. Here was one of the most important economists of all time, and he didn't think the relationship between coin flips and the stock market was a dinner-speech triviality.
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Psychologist Philip Tetlock (following the lead of Isaiah Berlin), divided the world of political forecasters into hedgehogs and foxes.
Justin Fox
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Every word she writes is a lie, including 'and' and 'the'.
Mary McCarthy
Justin Fox
Born:
January 28, 1964
(age 60)
Bio:
Justin Fox is an American financial journalist, commentator, and writer born in Morristown, New Jersey. He is the editorial director of the Harvard Business Review Group and business and economics columnist for Time magazine.
Known for:
Whoever Fears the Sea (2014)
The life and art of François Krige
The Marginal Safari (2010)
Under the sway (2007)
Justin Fox on Wikipedia
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