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February 12, 2009
Fisher: The Debt-Deflation Theory of Great Depressions
If you haven't read it, Irving Fisher's classic 1933 paper from Econometrica containing his debt-deflation theory of depressions is definitely worth a close look. The parallels to the current situation remain wide and important, as I buzz-killingly persist in pointing out.
-- Irving Fisher, "The Debt-Deflation Theory of Great Depressions,", Econometrica 1933
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