During the 18th and 19th centuries, English Navy recruiters incentivized men to sign up by offering them a King’s shilling. If they accepted the shilling, it meant their recruitment was consensual. Some recruiters were less than above board – when drunkards turned their heads, they’d drop a shilling into their beer. The men wouldn’t notice the shilling or metallic taste in the beer until it was too late. Since they’d received the shilling, their names would be added to the draft list and having been overserved bad luck were dragged off to sea the following morning. Once bar owners grew wise to the deceitful ruse, they began serving suds in clear-based glasses. For added emphasis, they reminded grateful patrons to peer into their pints for shillings by barking, “Bottoms up!” before the boozers drank more than their problems away.
Dismal scientists delete one letter to attack economic analysis from a different angle. We go “Bottom up!” to get to the bottom of investors’ persistent source of angst: inflation.