Season 1 · Episode 328
Irving Fisher and Debt Deflation
Irving Fisher was an economist who underwent quite a transition in his thinking, before arriving at Debt Deflation as a major cause of downturns. Steve Keen explains why the transformation.
Debunking Economics - the podcast · Steve Keen & Phil Dobbie
December 7, 202241m 39s
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Show Notes
Irving Fisher was an American economist whose book The Purchasing Power of Money looked at the relationship between money supply and price levels. In fact, to many he is seen as the father of monetarism, but on this week’s podcast Steve Keen explains how Fisher’s struggles with debt led him to develop his thinking on debt deflation as the cause of major economic downturns. He’s the first of a series of economists who have influenced Steve’s thinking, that we’ll be looking at over the next five weeks or so.
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