Predicting the Next Panic: The Pioneering Economic Forecasters and their Legacies

Walter Friedman

Economic History of Developing Regions, 2012, vol. 27, issue S1, S127-S135

Abstract: A market for predictions is part of any capitalist economy. In the U.S., the modern economic forecasting industry got its start in the early twentieth century. By elaborating on the “rules” by which economies function, forecasters provided ways to make sense of the very atmosphere in which businesses and investors operate. Like the development of routines for managing work within a firm, the popularization of forecasting models provided a sense of control over uncertainty.

Date: 2012
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DOI: 10.1080/20780389.2012.663525

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