Nine Days Left — Oversized Drop-Shoulder T-Shirt

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TEE-ECO-CD-FIS-01-M-BK T-Shirt

Piece

Nine Days Left Oversized Drop-Shoulder T-Shirt

$ 2,345.00

Description

On 15 October 1929 Fisher declared that shares had reached a permanently high plateau; the crash began nine days later and cost him his fortune. The print is the curve of that plateau, with the exact point where it breaks.

A Author

Irving Fisher

B Subject

Economics

C Aesthetic

Diagram · Typographic

Exploration

Fisher was the most respected economist in America and he was not speaking from hearsay: he had built the theory of index numbers, had measured debt with instruments still in use, and had his own fortune sitting where he said it should sit.

He said shares had reached a permanently high plateau. Nine days later the crash began. He lost everything of his own, went on teaching with his salary garnished, and spent the next twenty years explaining why it had happened.

That explanation — that debt and deflation feed each other in a spiral, and that the attempt to pay is what deepens the fall — turned out to be right. Nobody read it while he lived.

The same man, with the same data and the same method, was wrong in the most public way possible and right in the most invisible one. Everyone knows the sentence. Almost nobody knows the theory.

Details