C. A. E. Goodhart

C. A. E. Goodhart was a British economist known for his contributions to monetary economics and the theory of money supply. He is best known for Goodhart's Law, which states that when a measure becomes a target for policy, it ceases to be a useful measure. Essentially, once a specific economic indicator is prioritized for decision-making, it loses its reliability because people will manipulate it to meet the target. This insight highlights the challenges in using quantifiable metrics for economic policy, as focusing too much on one aspect can lead to unintended consequences.