CFDP 1817

Irving Fisher, Debt Deflation and Crises


Publication Date: August 2011

Pages: 8


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.


Purchasing power of money, Indexation, Indexed bonds, Depression, Recession, Mortgages, Financial crisis

JEL Classification Codes:  B22