Tag Archives: Prediction

People in 1900 predict our times…

ImageIn yesterday’s seminar, we discussed Matthew Rendall’s fascinating article about protecting our grandchildren against climate catastrophe at their own expense. The article builds on the idea that under certain assumptions our grandchildren might be much better off than we are.

This assumption about rising levels of welfare caused a lot of protest. The point that still bothers me in this whole discussion is this: How on earth could we actually give reasons for claims to the effect that future generations will be better off than us or worse off than us?

I suggested some ways of giving reasons for such claims here. Here’s a further method one could use for avoiding arbitrariness about predictions about the future:

  1. Estimate your own gut feeling about the future being richer or poorer than us.
  2. Think hard and carefully about the direction in which our gut feeling is probably distorted by biases.

In that context, it might also be instructive to see whether the past over- or underestimated future welfare rises. A fun and interesting example is from the Ladies Home Journal of December 1900. A journalist asked the “wisest and most careful men in our greatest institutions of science and learning” what they expect the world to look like in 2001. Read here for yourself.

They predicted peas as large as beets and strawberries as large as apples. Sometimes the forecasts are quite good, though. Twitter even seems to have made this prophecy come true  “Spelling by sound will have been adopted, first by the newspapers. English will be a language of condensed words expressing condensed ideas (…)”.