(The following is an excerpt from author Moshe A. Mievsky's The 7 Most Important Equations for Your Retirement, from the April 2012 issue of Research Magazine.)
The greatest economic scholar of the first-half of the 20th century, Professor Irving Fisher, was born in 1867 and served as a professor of economics at Yale University during the years 1900 to 1935. He was the first celebrity economist who was venerated and often quoted by the media of his time.
Unfortunately, his credibility and celebrity status came to a thunderous end around the stock market meltdown of 1929. Just before the crash, Irving Fisher announced to the media and world at large that "stock prices are at a permanently high plateau" and that he was quite bullish.
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