“Thus, our national circulating medium is now at the mercy of loan transactions of banks, which lend, not money, but promises to supply money they do not possess”
Quote by Irving Fisher
Author
Irving Fisher
Irving Fisher was an American economist renowned for his work in economics, statistics, and finance. He is celebrated for his contributions to the theory of consumer behavior, the quantity theory of money, and the development of index numbers. Fisher's career spanned several decades, during which he held influential positions in academia and the financial industry. more
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