Irving Fisher: Debt Deflation and Crises
9 Pages Posted: 15 Aug 2011
Date Written: August 12, 2011
It is the 100th anniversary of Irving Fisher’s 1911 book The Purchasing Power of Money. But, more important than that, it is a good time, during the current financial turmoil, to reconsider some of his theories again, in light of current events. And I think that some of his theories about variations in the purchasing power of money are very important today, have been underappreciated, and are worthy of considering anew.
Keywords: Purchasing power of money, Indexation, Indexed bonds, Depression, Recession, Mortgages, Financial crisis
JEL Classification: B22
Suggested Citation: Suggested Citation