Product Review

This book has an active table of contents for readers to easy access to each chapter.

Irving Fisher was the greatest economist the United States has ever produced. He made important contributions to utility theory, general equilibrium, theory of capital, the quantity theory of money and interest rates. Fisher was also a pioneer of the development of index numbers for stock markets. Fisher equation, the Fisher hypothesis, the international Fisher effect, and the Fisher separation theorem were named after him.

Following David Ricardo and John Keynes, Fisher was also one of those rare people who were deeply involved in investing and researching stock markets.

Fisher’s theory of debt deflation was widely used to explain the cause of the Great Depression and became more popular after the 2008 recession.

One of Fisher’s key contributions is Income Theory. Irving Fisher detailed a rational foundation in the book THE NATURE OF CAPITAL AND INCOME for the most fundamental of concepts behind the modern economics, capital and income.
This book explores the following important ideas of modern economic system:
1)Difference between wealth and property rights
2)Bankruptcy and its cascade effect
3)Challenge of defining income
4)Premium and Price concepts of interest
5)Risk in the economic arena

This book is still relevant to our economic life today and is a must read for people who are interested in knowing origination of capital and income. It presents deepest thoughts and analytic assessment about the income theory and its nature by Irving Fisher, one of the greatest economic thinkers on the planet.