ENGLISH

The Money Illusion

By Irving Fisher

Book information

Year
2009
ISBN
1607961830, 9781607961833
Language
english
Format
PDF
Filesize
5 MB (5662687 bytes)
Pages
248\256
Time added
2011-06-04 13:46:07

Description

In economics, money illusion refers to the tendency of people to think of currency in nominal, rather than real, terms. This is a fallacy as modern fiat currencies have no inherent value and their real value is derived from their ability to be exchanged for goods and used for payment of taxes. The term was coined by John Maynard Keynes in the early twentieth century, and Irving Fisher book, The Money Illusion, is one of the most important works on the subject.

Similar books