THE NATURE OF CAPITAL AND INCOME (Illustrated and Extended with Fisher's Capital and Income)

This book has an active table of contents for readers to easy access to each chapter of the following two titles:

1. The Nature of Capital and Income – Irving Fisher

2. Fisher's Capital and Income - Thorstein Veblen

Irving Fisher was the greatest economist the United States has ever produced. He made important contributions to utility theory, general equilibrium, theory of capital, the quantity theory of money and interest rates. Fisher was also a pioneer of the development of index numbers for stock markets. Fisher equation, the Fisher hypothesis, the international Fisher effect, and the Fisher separation theorem were named after him.

Following David Ricardo and John Keynes, Fisher was also one of those rare people who were deeply involved in investing and researching stock markets.

Fisher’s theory of debt deflation was widely used to explain the cause of the Great Depression and became more popular after the 2008 recession.

One of Fisher’s key contributions is Income Theory. Irving Fisher detailed a rational foundation in the book The Nature of Capital and Income for the most fundamental of concepts behind the modern economics, capital and income. This book explores the following important ideas of modern economic system:

Difference between wealth and property rights

Bankruptcy and its cascade effect

Challenge of defining income

Premium and Price concepts of interest

Risk in the economic arena

In the title Fisher's Capital and Income, Thorstein Veblen argued his view and thoughts for The Nature of Capital and Income written by great American economist Irving Fisher.

This book presents the deepest thoughts and analytic assessment about the capital and its nature by two of the great American economists, Irving Fisher and Thorstein Veblen.