Irving Fisher war ein amerikanischer Ökonom, dessen Werk die Grundlage für viele moderne ökonomische Theorien legte. Er leistete bedeutende Beiträge zur Nutzen- und Gleichgewichtstheorie und leistete Pionierarbeit bei der Untersuchung intertemporaler Entscheidungen auf Märkten, was zu seiner Theorie von Kapital und Zinssätzen führte. Seine Forschung zur quantitativen Geldtheorie gilt als Beginn des Monetarismus. Obwohl sein Ruf durch Börsenprognosen beschädigt wurde, bleiben seine späteren Theorien zur Schuldendeflation und seine Arbeiten zu Kapital und Zinsen einflussreich.
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The book presents Irving Fisher's theory of "debt-deflation," formulated in response to the economic turmoil following the 1929 stock market crash and the Great Depression. Fisher challenges traditional economic theories by linking economic crises to the collapse of credit bubbles. He outlines a sequence of effects triggered by this collapse, providing a framework for understanding the dynamics of financial crises. This reprint of the 1933 edition offers valuable insights into economic theory and crisis management.
The volume features two seminal works by Irving Fisher, a pioneer in modern finance. It explores his influential concepts, including the Fisher equation, hypothesis, and separation theorem, which have shaped economic theory. Fisher's insights into interest rates and capital markets provide a foundational understanding of financial principles that continue to resonate in contemporary economics.
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).
The book presents a rational foundation for essential concepts in modern economics, focusing on capital and income. It explores the influential theories developed by America's first celebrated economist, including the Fisher equation, Fisher hypothesis, and Fisher separation theorem, providing insights into their significance and application in economic thought.
Focusing on economic theory, this reprint delves into Irving Fisher's influential work on capital, investment, and interest rates. Fisher, a prominent figure in neoclassical economics, introduced key concepts such as the Fisher equation and separation theorem. His contributions significantly shaped economic thought, and this edition elaborates on his theories first presented in "The Nature of Capital and Income." With a comprehensive exploration of his ideas, the book highlights Fisher's lasting impact on economics and his role as a pioneering figure in the field.
2011 reprint of 1928 edition. Full facsimile of the original edition, not reproduced with Optical Recognition Software. In economics, money illusion refers to the tendency of people to think of currency in nominal, rather than real, terms. This is a fallacy 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, and Irving Fisher 1928 book, The Money Illusion, is one of the most important works on the subject.
Culturally significant, this work preserves the authenticity of the original artifact, featuring original copyright references and library stamps. It reflects the historical context and knowledge base of civilization, making it an important resource for scholars and readers interested in the preservation of literary heritage. The reproduction aims to maintain fidelity to the original text, offering insights into its significance and the era it represents.