Irving Fisher (February 27, 1867 – April 29, 1947) was an American economist, statistician, inventor, and Progressive social campaigner. He was one of the earliest American neoclassical economists, though his later work on debt deflation has been embraced by the Post- Keynesian school. Joseph Schumpeter described him as the greatest economist the United States has ever produced, an assessment later repeated by James Tobin and Milton Friedman. Fisher made important contributions to utility theory and general equilibrium.He was also a pioneer in the rigorous study of intertemporal choice in markets, which led him to develop a theory of capital and interest rates . His research on the quantity theory of money inaugurated the school of macroeconomic thought known as monetarism .Fisher was also a pioneer of econometrics , including the development of index numbers. Some concepts named after him include the Fisher equation, the Fisher hypothesis , the international Fisher effect, and the Fisher separation theorem.
Posted on: Thu, 26 Jun 2014 03:41:42 +0000
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