The Rate of Interest: Its Nature, Determination and Relation to Economic Phenomena

Fisher, Irving. The Rate of Interest: Its Nature, Determination and Relation to Economic Phenomena. New York: The Macmillan Company, 1907. First Edition. Octavo (8vo). xxi, 442 pages. Measures approximately 8.75 x 5.75 inches. Original publisher’s green cloth, gilt lettering to spine. Lacking dust jacket (none present). First edition, first printing, with 1907 date on title page and no later printings indicated. A landmark work in early twentieth-century economic theory by Irving Fisher, Professor of Political Economy at Yale and one of America’s most influential economists. In this important volume, Fisher sets forth his groundbreaking theory of interest based upon time preference (impatience), investment opportunity, and the productivity of capital. The work presents a rigorous mathematical and theoretical treatment of capital, income streams, and present value, laying essential foundations for modern intertemporal choice theory and exerting lasting influence on both macroeconomics and financial economics. A cornerstone text in the development of American neoclassical economics. Condition: A very nice, solid copy. Pages show moderate, even toning consistent with age. No inscriptions, bookplates, stamps, or internal markings. Text clean throughout. Binding firm and secure. Green cloth remains bright and attractive with light, expected handling wear. Corners lightly softened. Gilt lettering on spine clear. Hinges sound. A highly presentable example of this foundational economic work.…