Difference between revisions of "Expert Error"
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*Irving Fisher, professor of economics at Yale, believed in 1929 that stock prices would never decrease. | *Irving Fisher, professor of economics at Yale, believed in 1929 that stock prices would never decrease. | ||
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| + | ==See also== | ||
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| + | *[[Scientific progress]] | ||
Revision as of 20:33, December 24, 2009
Expert Error consists of serious errors by recognized experts about scientific or engineering theories or possibilities. We start with examples:
- Lord Kelvin claiming heavier than air flight, radio, and radioactivity were impossible.[1]
- Albert Einstein thought nuclear power would never be commercially viable.
- Leading scientists recommending around 1900 that the United States Patent Office should be abolished because everything useful had been invented.
- Thomas Watson, chairman of IBM in the 1960s, believed there would never be a market for more than a handful of computers in the entire world.
- Irving Fisher, professor of economics at Yale, believed in 1929 that stock prices would never decrease.
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