The PURE ECONOMICS OF MIDDLE CLASS IMPOVERISHMENT - Dick Eastman reading Irving Fisher The Debt Deflation Theory of Depressions from what is deflation economics Watch Video
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Description: Economic depressions which rob middle- and lower-middle class citizens of their wealth, their earnings and their lives first first almost completely understood in their workings by economist Irving Fisher in his book Booms and Depressions and in his article in Econometrica THE DEBT-DEFLATION THEORY OF DEPRESSIONS which I present to you in this reading.What is missing from Fisher in the dynamics of an existing deflationary depression (deflationary spiral) is provided by two other great economis