• ISBN13: 9788124806449
• Binding: Paperback
• Subject: Economics
• Publisher: Atlantic Publishers & Distributors (P) Ltd
• Publisher Imprint: Peacock Books
• Publication Date: January 28, 2025
• Pages: 232
• Original Price: INR 375.0
• Language: English
• Edition: N/A
• Item Weight: 210 grams
• BISAC Subject(s): N/A

In Booms and Depressions, economist Irving Fisher provides a groundbreaking analysis of the cyclical nature of economic activity, focusing on the causes and consequences of financial booms and subsequent depressions. First published in 1932, Fisher's work remains a seminal contribution to the study of economic fluctuations, offering a clear and insightful examination of the interplay between speculation, debt and monetary policy. Drawing on historical examples and his own theoretical framework, Fisher delves into the psychological and institutional factors that drive market bubbles and collapse, making a compelling case for the role of credit in amplifying economic cycles. His exploration of "the debt-deflation theory" has influenced generations of economists, offering critical lessons on the dangers of unsustainable growth and the long-term impacts of financial instability. Booms and Depressions is not only a key text for understanding the Great Depression but also remains a vital resource for anyone seeking to understand the forces that shape modern financial systems.

Irving Fisher (1867–1947) was a distinguished American economist and statistician renowned for his pioneering contributions to economic theory and mathematics. Born in Saugerties, New York, Fisher was a gifted scholar from a young age. He earned his Ph.D. in economics from Yale University, where he later became a professor, dedicating much of his career to teaching and research. Fisher is best known for his work on interest rates, capital theory, and the theory of money, particularly his development of the Fisher equation, which relates nominal interest rates to real interest rates and inflation. His 1907 book, The Rate of Interest, and his 1930 treatise, The Theory of Interest, are considered seminal works in the field of economics. Despite facing personal and professional challenges, including the loss of much of his wealth during the Great Depression, Fisher remained a prolific writer and thinker. His advocacy for public health, particularly his work on diet and wellness, also marked him as a multi-faceted intellectual. Fisher’s ideas, especially his work on monetary theory and his concept of the ‘debt-deflation’ spiral continue to influence economic thought, securing his legacy as one of the most important economists of the twentieth century.