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Books > History > History of specific subjects > Economic history
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Debt, Innovations, and Deflation - The Theories of Veblen, Fisher, Schumpeter, and Minsky (Hardcover)
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Debt, Innovations, and Deflation - The Theories of Veblen, Fisher, Schumpeter, and Minsky (Hardcover)
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In Debt, Innovations, and Deflation, the authors analyze the
deflation theories of Thorstein Veblen, Irving Fisher, Joseph A.
Schumpeter, and Hyman Minsky. In so doing, they develop a paradigm
for understanding the phenomenon of deflation. They explain how
technological, organizational, and financial innovations, combined
with developments related to the creation and use of debt, give
rise to conditions in which both deflation and inflation can be
present in the modern economy. The past several years have ushered
in a new era in economic policy issues. After decades of concern
over inflation, a series of studies brought to light the
potentially greater danger of deflation. In response, the authors
provide a critical re-examination of the literature and theories of
deflation. A driving question behind the research is whether
post-World War II capitalist economies rely on economic policies
and institutional reforms to keep an inherent tendency toward
deflation in check? And can the theories of Veblen, Fisher,
Schumpeter and Minsky shed light on how the creation and use of
debt can create a modern economy affected simultaneously by
deflation and inflation? Scholars and students of economic history
and finance will enjoy this insightful examination of the subject.
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