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Palgrave Macmillan

Irving Fisher

  • Book
  • © 2019

Overview

Authors:
  1. Robert W. Dimand

    1. Department of Economics, Brock University, St. Catharines, Canada

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  • Examines the life and work of Irving Fisher
  • Traces Fisher’s revitalization of the quantity theory of money
  • Considers how Fisher's work on Debt-Depression Theory influence policy making during the recent financial crisis
  • Examines Fisher’s scientific legacy in economics

Part of the book series: Great Thinkers in Economics (GTE)

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Table of contents (10 chapters)

  1. Front Matter

    Pages i-xiv
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  2. Economic Scientist, Economic and Social Reformer

    • Robert W. Dimand
    Pages 1-15

  3. Indifference Curves and a Hydraulic Model of General Equilibrium

    • Robert W. Dimand
    Pages 17-44

  4. Revitalizing the Quantity Theory of Money: From the Fisher Relation to the Fisher Equation

    • Robert W. Dimand
    Pages 45-73

  5. The Fisher Diagram and the Neoclassical Theory of Interest and Capital

    • Robert W. Dimand
    Pages 75-112

  6. Taming the “Dance of the Dollar”: From the Compensated Dollar to 100% Money

    • Robert W. Dimand
    Pages 113-134

  7. Fighting Money Illusion: The Fisher Ideal Index Number

    • Robert W. Dimand
    Pages 135-156

  8. Hubris, Nemesis, and Analysis: “Stock Prices Appear to Have Reached a Permanently High Plateau”

    • Robert W. Dimand
    Pages 157-173

  9. The Debt-Deflation Theory of Great Depressions

    • Robert W. Dimand
    Pages 175-200

  10. Changing Economics: Irving Fisher, the Cowles Commission, and the Econometric Society

    • Robert W. Dimand
    Pages 201-221

  11. Fisher’s Legacy in Economics

    • Robert W. Dimand
    Pages 223-234

  12. Back Matter

    Pages 235-239
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Keywords

About this book

Acclaimed by Joseph Schumpeter as ‘The greatest economist the United States has ever produced’, this book examines the life and work of American economist and statistician Irving Fisher (1867–1947). Fisher’s reputation suffered for decades after his incorrect predictions for the stock market in October 1929 and the impact of Keynesian macroeconomics, but the importance of his work came to be recognized through the advocacy of many prestigious scholars including Milton Friedman, Hyman Minsky and James Tobin. 
 
With pivotal contributions including his Debt-Deflation Theory, Fisher Diagram and Ideal Index Number, his research in neoclassical economics influenced policymaking in his own day as well as during the recent financial crisis. This volume will be of interest to all those interested in the twentieth century transformation of economics.



Authors and Affiliations

  • Department of Economics, Brock University, St. Catharines, Canada

    Robert W. Dimand

About the author

Robert Dimand is Professor of Economics at Brock University, Canada. In 2012-2013 he was President of the History of Economics Society. His first book, The Origins of the Keynesian Revolution (1988), was based on his Yale PhD dissertation, supervised by James Tobin. Since then he has authored and edited a dozen books, and more than 100 refereed journal articles. He previously published another book in this series entitled James Tobin (2014).

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