Commentary on Irving Fisher, The Nature of Capital and Income (1906)
AbstractSchumpeter 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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Bibliographic InfoPaper provided by Cowles Foundation for Research in Economics, Yale University in its series Cowles Foundation Discussion Papers with number 992.
Length: 11 pages
Date of creation: Oct 1991
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Find related papers by JEL classification:
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- Veblen, Thorstein, 1908. "Fisher's Capital and Income," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 23.
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