By extension, any nominal debt contract denominated in Bitcoin would rise in real value over time, leading to the kind of debt deflation that economist Irving Fisher
believedprecipitatedthe Great Depression.
Back in 1929, Irving Fisher
, a much-heeded economist, predicted days before one of the most famous stock market crashes in history that stocks had hit a "permanently high plateau.
, Useful and Harmful Speculation, in CO.
Listen, instead, to Irving Fisher
(no relation of mine) in his 1933 essay "The debt-deflation theory of great depressions" [Fisher 1933], as he parses the causes of "great disequilibrium":
Another possibility, of course, is that the mainstream macroeconomic theory is all wrong, and that Japan's permanently low interest rates are actually the cause of the low inflation - a theory called Neo-Fisherism, referring to the monetary theories of economist Irving Fisher
The proposal in 1939 was written by Irving Fisher
, Paul Douglas, Frank Graham, Earl Hamilton, Willford King and Charles Whittlesey.
As far back as the 1930s, economists like Irving Fisher
and John Maynard Keynes have studied the link between personality characteristics and economic behavior.
The Irving Fisher
Award consists of a cash prize of $1,000 to the winner, and submission of the paper to The American Economist at the option of the author.
In his annual address, the president of the American Economic Association, Irving Fisher
, sounded the alarm about the issue he described as "the great peril today"--the "striking inequality of capital," which, he argued, was "perverting" American democracy.
One of the good guys, for example--maybe the good guy of the book--is Irving Fisher
The fact that the factional reserve banking system leads to crisis was recognized by Irving Fisher
and Nobel laureate Frederick Soddy who proposed a financial system with a 100% reserve (Fisher, 1935, 1936; Daly/Farley, 2004) (1) and this idea is becoming famous again (Huber, 1998).
The radical idea of depriving banks of their money-creating function, like the idea of helicopter money, was first proposed by conservative Chicago economists -- Henry Simons and Irving Fisher
-- in 1936.