Irving Fisher
Irving Fisher

Author: Robert W. Dimand

Publisher: Springer

Published: 2019-03-29

Total Pages: 248

ISBN-13: 3030051773

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Acclaimed by Joseph Schumpeter as ‘The greatest economist the United States has ever produced’, this book examines the life and work of American economist and statistician Irving Fisher (1867–1947). Fisher’s reputation suffered for decades after his incorrect predictions for the stock market in October 1929 and the impact of Keynesian macroeconomics, but the importance of his work came to be recognized through the advocacy of many prestigious scholars including Milton Friedman, Hyman Minsky and James Tobin. With pivotal contributions including his Debt-Deflation Theory, Fisher Diagram and Ideal Index Number, his research in neoclassical economics influenced policymaking in his own day as well as during the recent financial crisis. This volume will be of interest to all those interested in the twentieth century transformation of economics.

Irving Fisher
Irving Fisher

Author: Robert Loring Allen

Publisher: Wiley-Blackwell

Published: 1993-08-20

Total Pages: 344

ISBN-13: 9781557863058

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Irving Fisher was one of the greatest and certainly one of the most colorful American economists. Widely acknowledged as the chief architect of modern neo-classical economics, he was a writer and teacher of prodigious scope and output whose business career included the earning of a fortune from the invention of a card index system, and its subsequent loss in the Great Crash. He was also an active campaigner for numerous causes, including world peace, prohibition, and 100 percent deposit reserve money. This biography, focusing both on Fisher's personal life, as well as on his intellectual contributions, will be of wide interest to economists and of particular interest to American economics scholars who regard him as their pre-1950 giant of the discipline.

The Money Illusion
The Money Illusion

Author: Irving Fisher

Publisher: Simon and Schuster

Published: 2014-03-27

Total Pages: 152

ISBN-13: 1627939997

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In economics, money illusion refers to the tendency of people to think of currency in nominal, rather than real, terms. In other words, the numerical/face value (nominal value) of money is mistaken for its purchasing power (real value). This is false, as modern fiat currencies have no inherent value and their real value is derived from their ability to be exchanged for goods and used for payment of taxes. The term was coined by John Maynard Keynes in the early twentieth century. Almost every one is subject to the "Money Illusion" in respect to his own country's currency. This seems to him to be stationary while the money of other countries seems to change. It may seem strange but it is true that we see the rise or fall of foreign money better than we see that of our own.-IRVING FISHER

The Rate of Interest
The Rate of Interest

Author: Irving Fisher

Publisher: Franklin Classics

Published: 2018-10-10

Total Pages: 462

ISBN-13: 9780342231447

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This work has been selected by scholars as being culturally important and is part of the knowledge base of civilization as we know it. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. To ensure a quality reading experience, this work has been proofread and republished using a format that seamlessly blends the original graphical elements with text in an easy-to-read typeface. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

The Debt-Deflation Theory of Great Depressions
The Debt-Deflation Theory of Great Depressions

Author: Irving Fisher

Publisher:

Published: 2016-05-02

Total Pages: 28

ISBN-13: 9781987817782

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Following the stock market crash of 1929 and the ensuing Great Depression, Fisher developed a theory of economic crises called "debt-deflation," which rejected general equilibrium theory and attributed crises to the bursting of a credit bubble. According to the debt deflation theory, a sequence of effects of the debt bubble bursting occurs: 1. Debt liquidation and distress selling. 2. Contraction of the money supply as bank loans are paid off. 3. A fall in the level of asset prices. 4. A still greater fall in the net worth of businesses, precipitating bankruptcies. 5. A fall in profits. 6. A reduction in output, in trade and in employment. 7. Pessimism and loss of confidence. 8. Hoarding of money. 9. A fall in nominal interest rates and a rise in deflation adjusted interest rates. This theory was ignored in favor of Keynesian economics, partly due to the damage to Fisher's reputation from his overly optimistic attitude prior to the crash, but has experienced a revival of mainstream interest since the 1980s, particularly since the Late-2000s recession, and is now a main theory with which he is popularly associated.

The Theory of Interest As Determined by Impatience to Spend Income and Opportunity to Invest It
The Theory of Interest As Determined by Impatience to Spend Income and Opportunity to Invest It

Author: Irving Fisher

Publisher: Martino Fine Books

Published: 2012-07-01

Total Pages: 610

ISBN-13: 9781614273318

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2012 Reprint of 1930 Edition. Exact facsimile of the original edition, not reproduced with Optical Recognition Software. This work is an important update and reworking of Fisher's "The Rate of Interest," first published in 1907. Very fundamental changes in the nature of the world economy, principally World War I, war financing, the sensational inflation of the currencies of the combatants, and the remarkable developments in new scientific, industrial and agricultural methods had occurred; all requiring integration into a new theory. Fisher called interest "an index of a community's preference for a dollar of present [income] over a dollar of future income." He labeled his theory of interest the "impatience and opportunity" theory. Interest rates, Fisher postulated, result from the interaction of two forces: the "time preference" people have for capital now, and the investment opportunity principle (that income invested now will yield greater income in the future).

Elementary Principles of Economics
Elementary Principles of Economics

Author: Irving Fisher

Publisher: Legare Street Press

Published: 2023-07-18

Total Pages: 0

ISBN-13: 9781019379646

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Gain a solid understanding of economic principles with this classic text by Irving Fisher. Starting from basic concepts such as supply and demand, Fisher covers everything from the nature of money to the role of government in the economy, providing clear and concise explanations along the way. This book is an essential resource for students and anyone seeking to understand the workings of the modern economy. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.