The Theory of Interest; As Determined by Impatience to Spend Income an

FISHER (Irving).

The Theory of Interest; As Determined by Impatience to Spend Income and Opportunity to Invest It.

First edition. 8vo (225 x 155mm). xxvii, [5], 566 pp., with three fold-out tables, printed errata slip tipped in at p. xiii. Original navy ribbed cloth, spine lettered and ruled in gilt, titles in blind to front board with a single filet blind border, fore and bottom edges uncut (slight lean to text block, pencilled ownership inscription to front free endpaper, some faint marking to spine and light wear to extremities, notwithstanding a very good copy, with the publisher’s prospectus and review slip loosely inserted). New York, The MacMillan Company, 1930.

£1,000.00

An important late work by Irving Fisher, consisting of a reformulation of his earlier work The Rate of Interest (1907), it represents the clearest and most famous exposition of Fisher’s theory of interest rates and investment, demonstrating ‘that the real rate of interest is determined by both demand and supply, by the demand for production and consumption loans on the one hand and the supply of savings on the other’ (Blaug, Great Economists before Keynes, p. 79).

Fisher E-1539.

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247277

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The Theory of Interest; As Determined by Impatience to Spend Income and Opportunity to Invest It.

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