Tim Harford reads from his new book revealing how we can evaluate the statistical claims that surround us with confidence, curiosity and a healthy level of scepticism.

Statistics are vital in helping us understand the world. We see them in the papers and on social media, and we hear them used in everyday conversation. Yet we doubt them more than ever. But numbers – in the right hands – have the power to change the world for the better.

Tim argues that, contrary to popular belief, good statistics are not a trick, although they are a kind of magic. Good statistics are like a telescope for an astronomer, a microscope for a bacteriologist or an X-ray for a radiologist. If we are willing to let them, good statistics help us see things about the world that we would not be able to see in any other way.

Tim Harford is a senior columnist at the Financial Times and the presenter of Radio 4’s More or Less and Fifty Things that Made the Modern Economy, as well as author of the best-selling The Undercover Economist.

In this fourth episode, Tim describes the contrasting lives of two of the 20th century’s greatest economists - Irving Fisher and John Maynard Keynes. Fisher was a teetotal vegetarian who married his childhood sweetheart; Keynes was a bisexual hedonist and part of the Bloomsbury Group. Both men failed to predict the Wall Street crash of 1929 but their reactions to it were very different and, Tim argues, a vital lesson to us all.

Abridged and produced by Jane Greenwood
Read by Tim Harford
A Loftus Media production for BBC Radio 4 Show less