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Commentary on Irving Fisher, The Nature of Capital and Income (1906)

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Author Info
James Tobin (Cowles Foundation, Yale University)

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Abstract

Schumpeter regarded "The Nature of Capital and Income" as one of the three of Fisher's contributions to general theory generally recognized, at the time Schumpeter was writing, as "of first-class importance and originality." The other two were Fisher's "Mathematical Investigations" (1982) and his statistical method for measuring the marginal utility of income (1972). Nature is the bridge, both in sequence and in logic, between the other two great works, the timeless general equilibrium theory of the 1892 dissertation and the extension of that theory to intertemporal choices in production and consumption in the theory of interest.

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File URL: http://cowles.econ.yale.edu/P/cd/d09b/d0992.pdf
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Publisher Info
Paper provided by Cowles Foundation, Yale University in its series Cowles Foundation Discussion Papers with number 992.

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Length: 11 pages
Date of creation: Oct 1991
Date of revision:
Handle: RePEc:cwl:cwldpp:992

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Related research
Keywords: General equilibrium; economic thought;

Find related papers by JEL classification:
B31 - Schools of Economic Thought and Methodology - - History of Thought: Individuals - - - Individuals
B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics

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  1. Veblen, Thorstein, 1908. "Fisher's Capital and Income," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 23. [Downloadable!]
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This page was last updated on 2010-1-5.

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