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The Debt-Deflation Theory of Great Depressions

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The Debt-Deflation Theory of Great Depressions

The credit crunch today is not destroying capital but recognising that capital was destroyed by misallocation in the years of irrational exuberance. If that is so, then we are entering a spiral of debt deflation that will play out slowly for years to come. To understand how that works, we turn to Professor Irving Fisher of Yale (1933).
Country USA
Manufacturer CreateSpace Independent Publishing Platform
Binding Paperback
EANs 9781453624456
ReleaseDate 0000-00-00