The Debt‑Deflation Theory Of . . .
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| Google books | books.google.com |
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| Originally published | 1933 |
| Authors | Irving Fisher |
| Date of Reg. | |
| Date of Upd. | |
| ID | 2406774 |
About The Debt‑Deflation Theory Of . . .
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. . . .