The Debt-Deflation Theory of Great Depressions

by Irving Fisher

Book Overview

2011 Reprint of the 1933 edition. Following the stock market crash of 1929 and the ensuing Great Depression, Fisher developed a theory of economic crises called "debt-deflation", which rejected general equilibrium theory and attributed crises to the bursting of a credit bubble. According to the debt deflation theory, a sequence of effects of the debt bubble bursting occurs: 1. Debt liquidation and distress selling. 2. Contraction of the money supply...

• Format: Paperback
• Language: English
• ISBN: 1614270104
• ISBN13: 9781614270102
• Release Date: March 2011
• Publisher: Martino Fine Books
• Length: 46 Pages
• Weight: 0.40 lbs.
• Dimensions: 0.1" x 6.0" x 9.0"