Download EBOOK The Debt-Deflation Theory of Great Depressions PDF for free


Download EBOOK The Debt-Deflation Theory of Great Depressions PDF for free Category: Business, Finance & Law
The author of the book: Irving Fisher
Format files: PDF, EPUB, TXT, DOCX
The size of the: 38.14 MB
Language: English
ISBN-13: 9781614270102
Edition: Martino Fine Books
Date of issue: 29 March 2011

Description of the book "The Debt-Deflation Theory of Great Depressions":

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 as bank loans are paid off.3. A fall in the level of asset prices.4. A still greater fall in the net worth of businesses, precipitating bankruptcies.5. A fall in profits.6. A reduction in output PDF, in trade and in employment.7. Pessimism and loss of confidence.8. Hoarding of money.9. A fall in nominal interest rates and a rise in deflation adjusted interest rates.This theory was ignored in favor of Keynesian economics, partly due to the damage to Fisher's reputation from his overly optimistic attitude prior to the crash, but has experienced a revival of mainstream interest since the 1980s, particularly since the Late-2000s recession, and is now a main theory with which he is popularly associated.

Download EBOOK The Debt-Deflation Theory of Great Depressions PDF for free


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Irving Fisher

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Download EBOOK The Debt-Deflation Theory of Great Depressions PDF for free



Download EBOOK The Debt-Deflation Theory of Great Depressions for free

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