Irving Fisher
A leading figure in monetary economics, known for his quantity theory of money and work on interest rates.
Quotes by Irving Fisher
The value of money, that is, the general level of prices, is determined by the quantity of money in circulation, its velocity of circulation, and the volume of trade.
Inflation is taxation without legislation.
The rate of interest is the premium on present goods over future goods.
Debt is the great evil of our time.
The more violent the boom, the more severe the subsequent depression.
The quantity theory of money is not a theory of the value of money, but a theory of the general level of prices.
The dollar is not a fixed unit of value, but a variable one.
The purchasing power of money is inversely proportional to the general level of prices.
The rate of interest is determined by the interaction of impatience and opportunity.
The business cycle is a dance of debt.
The ideal monetary standard is one that maintains a stable purchasing power.
The quantity of money is the most important single factor in determining the general level of prices.
The velocity of circulation of money is a measure of the rapidity with which money changes hands.
The volume of trade is the total amount of goods and services exchanged in a given period.
The real rate of interest is the nominal rate of interest minus the rate of inflation.
Deflation is even more dangerous than inflation.
The debt-deflation theory of great depressions.
The gold standard is a fair-weather standard.
The only way to stabilize the dollar is to manage it.
The quantity theory of money is a truism, but it is a useful truism.