Neoclassical Economists - Alfred Marshall, Irving Fisher, Harald Uhlig, Fumio Hayashi, Alfred Marshall, Irving Fisher, Harald Uhlig, Fumio Hayashi, William Smart William Smart (Paperback)

Chapters: Alfred Marshall, Irving Fisher, Harald Uhlig, Fumio Hayashi, William Smart. Source: Wikipedia. Pages: 29. Not illustrated. Free updates online. Purchase includes a free trial membership in the publisher's book club where you can select from more than a million books without charge. Excerpt: Irving Fisher (February 27, 1867 Saugerties, New York April 29, 1947, New York) was an American economist, health campaigner, and eugenicist, and one of the earliest American neoclassical economists, though he later rejected the underlying theory of general equilibrium, and his later work on debt deflation is instead considered in the Post-Keynesian school. Although he was perhaps the first celebrity economist, his reputation during his lifetime was irreparably harmed by his sanguine attitude immediately prior to the crash of 1929, and his theory of debt deflation was ignored in favor of the work of John Maynard Keynes. His reputation has since recovered in neoclassical economics since his work was popularized in the late 1950s (Hirshleifer 1958), and more widely due to an increased interest in debt deflation in the Late-2000s recession. Fisher's work on the quantity theory of money was one of the major influences on the development of Milton Friedman's "monetarism." Friedman called Fisher "the greatest economist the United States has ever produced." Other concepts named after Fisher include the Fisher equation, the Fisher hypothesis, the international Fisher effect, and the Fisher separation theorem. Fisher's father was a teacher and Congregational minister, who raised his son to believe he must be a useful member of society. The young Irving had mathematical ability and a flair for invention. A week after he was admitted to Yale University, his father died at age 53. Irving carried on, however, supporting his mother, brother, and himself, mainly by tutoring. He graduated from Yale with a B.A degree in 1888, where he was a memb...More: http: //booksllc.net/?id=40450