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).
Author: Irving Fisher
Binding: Paperback
EAN: 9781453624456
Condition: New
Manufacturer: CreateSpace Independent Publishing Platform
Number of items: 1
Number of pages: 42
Product group: Book
Studio: CreateSpace Independent Publishing Platform
Publication Date: 2010-06-10
Publisher: CreateSpace Independent Publishing Platform
Pages: 42
ISBN: 1453624457
