Irving Fisher

“If the vicious spiral of deflation is to be broken, it must be by some means other than waiting for it to break itself.”

“But the fact that a fall in prices is injurious to debtors applies as strongly to favored debtors as to other debtors.”

“The end of deflation is a good thing.”

“Stock prices have reached what looks like a permanently high plateau.”

“Interest is impatience crystallized into a market rate.”

“The nation is marching along a permanently high plateau of prosperity.”

“The effort of the economist is to see, to picture the interplay of economic elements.”

“Thus, our national circulating medium is now at the mercy of loan transactions of banks, which expand and contract aggressively, irrespective of the needs of business.”

“We are not slaves to a gold standard.”

“There may be a recession in stock prices, but not anything in the nature of a crash.”

“The true object of a university is to advance learning and to perpetuate it.”

“The doctrine that velocity of circulation is a constant is a myth.”