The Debt-Deflation Theory of Great Depressions

  title={The Debt-Deflation Theory of Great Depressions},
  author={Irving Nuttall Fisher},
IN Booms and Depressions, I have developed, theoretically and statistically, what may be called a debt-deflation theory of great depressions. In the preface, I stated that the results "seem largely new," I spoke thus cautiously because of my unfamiliarity with the vast literature on the subject. Since the book was published its special conclusions have been widely accepted and, so far as I know, no one has yet found them anticipated by previous writers, though several, including myself, have… 

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