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Cover of The Works of Irving Fisher

The Works of Irving Fisher

Edited by William J. Barber

Consulting Editor James Tobin

  • Published: 1997
  • DOI: 10.4324/9781851962259
  • Set ISBN: 9781851962259

Set Contents

The Theory of Interest

Consulting Editor James Tobin

The Theory of Interest, as Fisher observed in the Preface to the work, should be read more as a clarification than as a modification to the doctrines he had set out in The Rate of Interest (1907) and in the exchanges it had provoked in the years immediately thereafter. Even so, this book was more than a restatement of views he had advanced earlier. Both in substance and in style, The Theory of Interest moved the discussion of this topic to higher ground.

Volume Contents

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    Front Matter
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    Editorial Introduction with Selected Documents By William J. Barber
  • The Theory of Interest By Irving Fisher
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      Prelims
    • Introduction
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        I
        Income and Capital
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        II
        Money Interest and Real Interest
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        III
        Some Common Pitfalls
    • The Theory in Words
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        IV
        Time Preference (Human Impatience)
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        V
        First Approximation to the Theory of Interest: Assuming Each Person’s Income Stream Foreknown and Unchangeable Except by Loans
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        VI
        Second Approximation to the Theory of Interest: Assuming Income Modifiable (1) by loans and (2) by other means
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        VII
        The Investment Opportunity Principles
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        VIII
        Discussion of the Second Approximation
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        IX
        Third Approximation to the Theory of Interest: Assuming Income Uncertain
    • The Theory in Mathematics
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        X
        First Approximation in Geometric Terms
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        XI
        Second Approximation in Geometric Terms
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        XII
        First Approximation in Terms of Formulas
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        XIII
        Second Approximation in Terms of Formulas
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        XIV
        The Third Approximation Unadapted to Mathematical Formulation
    • Further discussion
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        XV
        The Place of Interest in Economics
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        XVI
        Relation of Discovery and Invention to Interest Rates
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        XVII
        Personal and Business Loans
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        XVIII
        Some Illustrative Facts
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        XIX
        The Relation of Interest to Money and Prices
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        XX
        Objections Considered
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        XXI
        Summary
    • Appendices
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        Appendix to Chapter I
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        Appendix to Chapter X
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        Appendix to Chapter XII
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        Appendix to Chapter XIII
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        Appendix to Chapter XIX
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        Appendix to Chapter XX
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      Bibliography
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      Index
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    Editorial Postscript By William J. Barber