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).
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Irving Fisher (1867-1947) was one of America’s most celebrated economists. Although not widely remembered outside of economics, within it he has increasingly become considered a giant of the profession. (Dalls Federal Reserve)
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Descripción CreateSpace, 2010. Paperback. Estado de conservación: Brand New. 42 pages. 9.00x6.00x0.11 inches. This item is printed on demand. Nº de ref. de la librería zk1453624457
Descripción CreateSpace Independent Publishing Platform, 2010. Paperback. Estado de conservación: New. Nº de ref. de la librería DADAX1453624457