Forerunners of modern financial economics : a random walk in the history of economic thought The economists who began using statistics to analyze financial markets in the 1950s have been credited with revolutionizing the scholarship of investing and with inaugurating modern financial economics. By examining the work of economists who used statistics to analyze financial markets before 1950 Donald Stabile provides evidence about the forerunners of modern financial economics Introduction : finance risk and statistics The highs and lows of Bayesian economic statistics Irving Fisher and the mathematics of risk Thorstein Veblen and credit risk Risk and diversification in the boom of the 1920s Evaluating market forecasts : financial economics in the 1930s Statistics and the theory of value investing Finance in a period of war debt and taxes The forerunners in relation to modern financial economies