Debt deflation great depression
Fisher’s “Debt-Depression Theory of Great Depressions” (Econometrica 1: 337–357, 1933), explaining what had gone wrong, attracted little attention at the time, given the wreckage of Fisher’s reputation, but from 1975 onwards influenced the views of Hyman Minsky, James Tobin, Ben Bernanke and Mervyn King on how to avoid another depression—an influence that had practical relevance for the response of Bernanke and King to the possibility of the collapse of financial intermediation in 2007 and 2008. Annie L. Cot, « The Debt-Deflation Theory of Great Depressions: On Irving Fisher’s Use of Medical Metaphors », Œconomia [En ligne], 3-2 | 2013, mis en ligne le 30 janvier 2014, consulté le 12 mars 2020. IRVING FISHER'S DEBT-DEFLATION THEORY OF GREAT DEPRESSIONS fall of 1929 must be balanced against his prediction of a stock price boom in 1930. If one views the bull market of the 1920s as a speculative bubble, all that could be predicted is that the bubble would eventually burst, not when.