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Paperback The Debt-Deflation Theory of Great Depressions Book
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ISBN: 1614270104

ISBN13: 9781614270102

The Debt-Deflation Theory of Great Depressions

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Format: Paperback

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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...

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