CFDP 1817

Irving Fisher, Debt Deflation and Crises

Author(s): 

Publication Date: August 2011

Pages: 8

Abstract: 

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 Codes:  B22