Doug wrote: >Jim Devine wrote: > >>Fisher's theory appears in Fisher, Irving. 1933. The Debt-Deflation >>Theory of Great Depressions. Econometrica 1: 337-57. It was also >>published as a book. This theory has appeared in orthodox mainstream >>textbooks, but not often. > >Hyman Minsky has a somewhat obscure paper on the topic: > >>-- (1982b). "Debt Deflation Processes in Today's Institutional >>Environment," Banca Nazionale del Lavoro Review 143 (December), pp. 375-393.
what did he say? I can imagine he said that Fisher's debt-deflation depression couldn't occur nowadays. He may still be right. Jim Devine [EMAIL PROTECTED] & http://bellarmine.lmu.edu/~jdevine
