The Debt-Deflation Theory of Great Depressions

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The book presents Irving Fisher's theory of "debt-deflation," formulated in response to the economic turmoil following the 1929 stock market crash and the Great Depression. Fisher challenges traditional economic theories by linking economic crises to the collapse of credit bubbles. He outlines a sequence of effects triggered by this collapse, providing a framework for understanding the dynamics of financial crises. This reprint of the 1933 edition offers valuable insights into economic theory and crisis management.