FIRST EDITION OF IRVING FISHERS CLASSIC WORK BOOMS AND DEPRESSIONS; INSCRIBED BY HIM TO WILLIAM RANDOLPH HEARST
Booms and Depressions: Some First Principles.
Item Number: 4136
New York: Adelphi Publishers, 1932.
First edition of Fisher’s classic work connecting monetary fluctuations to extreme periods of the business cycle. Octavo, original green cloth. Presentation copy, inscribed and dated by the author on the front free endpaper, “To Mr. William Randolph Hearst with the compliments of Irving Fisher.” The recipient, William Randolph Hearst was an American newspaper magnate who built the nation’s largest newspaper chain and whose methods profoundly influenced American journalism during The Great Depression and beyond. He later expanded to magazines, creating the largest newspaper and magazine business in the world. In near fine condition, lacking the rare dust jacket.
In this work, Irving Fisher puts forth the theory that booms and depressions may stem from deranged money, or currency that is behaving irrationally due to various value-skewing factors such as debt, hoarding, confidence, and consumption. Fisher is considered to be "the father of monetary economics."