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The Debt-Deflation Theory of Great Depressions
0 - Used - very good
Description
1. Debt liquidation and distress selling.
2. Contraction of the money supply as bank loans are paid off.
3. A fall in the level of asset prices.
4. A still greater fall in the net worth of businesses, precipitating bankruptcies.
5. A fall in profits.
6. A reduction in output, in trade and in employment.
7. Pessimism and loss of confidence.
8. Hoarding of money.
9. A fall in nominal interest rates and a rise in deflation adjusted interest rates.
This theory was ignored in favor of Keynesian economics, partly due to the damage to Fisher's reputation from his overly optimistic attitude prior to the crash, but has experienced a revival of mainstream interest since the 1980s, particularly since the Late-2000s recession, and is now a main theory with which he is popularly associated.
Product details
- Binding:
- Paperback
- Number of Pages:
- 46
- Release Date:
- 2011-03-29
- Publication Date:
- 2011-03-29
- Publisher:
- Martino Fine Books
- Languages:
- Original: English
- ISBN10:
- 1614270104
- ISBN13:
- 9781614270102
- Weight:
- 83 g
- Height:
- 152 cm
- Width:
- 229 cm
- Thickness:
- 4 cm
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