First Edition of Irving Fisher's The Money Illusion

  • The Money Illusion.

The Money Illusion.

Item Number: 49056

New York: Alephi Company, 1928.

First edition of Fisher’s classic treatise on money. Octavo, original cloth. In good condition with some wear to the spine.

In economics, money illusion refers to the tendency of people to think of currency in nominal, rather than real, terms. This is a fallacy as modern fiat currencies have no inherent value and their real value is derived from their ability to be exchanged for goods and used for payment of taxes. The term was coined by John Maynard Keynes in the early twentieth century, and Irving Fisher 1928 book, The Money Illusion, is one of the most important works on the subject.