The Debt-Deflation Theory of Great Depressions - Softcover
The credit crunch today is not destroying capital but recognising that capital was destroyed by misallocation in the years of irrational exuberance. If that is so, then we are entering a spiral of debt deflation that will play out slowly for years to come. To understand how that works, we turn to Professor Irving Fisher of Yale (1933).
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Irving Fisher (1867-1947) was one of America’s most celebrated economists. Although not widely remembered outside of economics, within it he has increasingly become considered a giant of the profession. (Dalls Federal Reserve)
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- PublisherCreateSpace Independent Publishing Platform
- Publication date2010
- ISBN 10 1453624457
- ISBN 13 9781453624456
- BindingPaperback
- Number of pages42
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