Irving Fisher

The quantity of money is like the water in a reservoir; its level determines the pressure.

The rate of interest is the price of time.

The business cycle is a natural phenomenon, but it can be mitigated.

The only constant in economics is change.

The greatest economic discovery is the concept of stable money.

The quantity theory of money is the foundation of monetary economics.

The rate of interest is a measure of our impatience.

The business cycle is a test of our economic policies.

The future is not what it used to be.

The greatest economic challenge is to prevent depressions.

The dollar should be a standard of value, not a speculative commodity.

Stock prices have reached what looks like a permanently high plateau.

The public can as soon be persuaded of the safety of stocks as of a new religion.

In a major deflation, the value of debts rises while the value of assets falls.

The rate of interest is the percentage excess of a future good over a present good.

Life is not merely to be alive, but to be well.

The higher the standard of living, the greater the need for health.

Money is a medium of exchange, a unit of account, and a store of value.

Inflation is the one form of taxation that can be imposed without legislation.

The quantity theory of money holds that the price level varies inversely with the volume of trade and directly with the volume of money.