Booms and Depressions. Some First Principles - Irving Fisher, LL. D. 1932 - Adelphi Company, New York - First Edition First edition of this now acknowledged classic presenting the theory of Great Depressions by the leading American economist of his generation, who many consider ‘the father of monetary economics’ (Pressman, 91), along with Milton Friedman.

Rare in such a bright and intact delicate dust jacket.
  “In mid-October 1929, just days before Black Tuesday and its unprecedented stock market crash, Irving Fisher made the infamous declaration that:

‘Stock prices have reached what looks like a permanently high plateau’.

Ever a man of strong opinions, in the ensuing weeks Fisher lost not only his entire fortune but also his credibility and reputation in the academic community. His subsequent ideas were given little consideration as policy makers embraced the work of John Maynard Keynes, another economist whose personal stock portfolio had collapsed in the crash, albeit less publicly. Nonetheless, Fisher,whom James Tobin (2008) describes as “the greatest economist America has produced”, was no less prolific during the great Depression, penning his debt-deflation theory in 1933,as a succinct version of the content of his 1932 book
Booms and Depressions. in recent years, with the return of deflation as a credible threat to advanced economies (or as a reality in the case of Japan, among others), there has been a resurgence of interest in the effects of combined debt and deflation, so that Fisher’s theory is returning to prominence.” – Emmet Kiberd, Trinity College Dublin.

References: Steven Pressman,
Fifty Major Economists, 91.

Thick octavo (book size 19.3x13.3cm), pp. [4] xxi [1] 258 [4]. In publisher’s green cloth, spine lettered in yellow, all edges trimmed. Dust jacket priced ‘$2.50’ to upper corner of front flap.
  Condition: Fine but for a small chip to the top edge of the spine cloth, in very good dust jacket with corresponding wear to head of gently toned spine, and short folding tears along top edge.   Ref: 111399   Price: HK$ 38,000