FISHER Irving. The Stock Market Crash - And After. , 1930.

Price: US$3228.59 + shipping

Description: First edition. 8vo. 305, [1], pp., frontispiece graph and 25 charts throughout the text. Original red cloth, spine lettered and ruled in gilt, front cover with single blind filet border, fore edge untrimmed (slight rubbing at extremities, small faint splash mark to front cover, notwithstanding a very good copy indeed). New York, The MacMillan Company. A presentation copy, inscribed by the author 'To Prof. Wm. A. Berridge with the compliments of Irving Fisher April, 1930' in black ink to the front free endpaper. The recipient William Arthur Berridge (1893-1974), author of Cycles of Unemployment in the United States (1923), was instructor in economics at Harvard from 1920 to 1922, assistant associate professor at Brown University from 1922 to 1927, and economist at the Metropolitan Life Insurance Company from 1924 to 1961. Irving Fisher was one of the judges who selected Berridge's Cycles of Unemployment, from 200 submissions, for receipt of the Pollak Foundation prize in 1921; it was published as volume four in the Pollak Foundation publication series, of which volume one was Fisher's The Making of Index Numbers (1922). Fisher's analysis of the reasons for the 1929 crash, with a detailed discussion of the ensuing effects. 'When the 1929 slump occurred, Fisher was over 60 years old; yet he tackled the very difficult theory of economic fluctuations. He finally reach the conclusion - which contains a large element of truth - that business cycles are due on the one hand to the existence in the banking system of uncovered demand deposits and on the other to the opportunities for hoarding offered by the circulating monetary media. These views led him to recommend regulation of the demand for and supply of money through steadily depreciating circulating money and 100% coverage of demand deposits as a cure for business cycle ill' (IESS). Fisher, E-1532.

Seller: Maggs Bros. Ltd ABA, ILAB, PBFA, BA, London, United Kingdom

Fisher, Irving. The Stock Market Crashâ€"And After.. The Macmillan Company, New York, 1930.

Price: US$3500.00 + shipping

Description: First edition of Fisher's important work tracing the causes and the immediate aftermath of the 1929 Stock Market Crash. Octavo, original red cloth. Presentation copy, inscribed by the author in the year of publciation on the front free endpaper, "To Mr. Robert W. King with the compliments of Irving Fisher March, 1930." In near fine condition. "Irving Fisher was, in the opinion of many, the leading economic theorist in the United States during the first half of the 20th century. Although his contributions to economic theory and to the development of econometrics ensure him a preeminent position among contemporary economists, he was a versatile man. In his day he was equally well-known as social philosopher, teacher, inventor, businessman, and passionate crusader for many social causes" (DAB). In 1929, just before the crash, Fisher wrote that stock prices had "reached what looks like a permanently high plateau." However, Fisher's perspective changed drastically post-crash and he managed to salvage his reputation with the brilliant understanding of the market's machinations that he displayed in this work, along with some inspired solutions for recovery. While Fisher ultimately painted a rosy picture of America's future, it was never realized due in part to Fisher's misplaced belief that America would adopt wise banking policies and gold control and his absolute faith in Hoover's leadership abilities. By 1931, the United States had fallen into the depths of the Great Depression.

Seller: Raptis Rare Books, Palm Beach, FL, U.S.A.