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The impact of Fisher's Purchasing Power of Money in the German Language Area

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  • Harald Hagemann

Abstract

The paper focuses on the reception of Fisher's Purchasing Power of Money in the German language area. Despite widespread hostility of German economists to quantity theory, it was Germany where Wicksell's Interest and Prices was published in 1898, and the first foreign language translation of Fisher's book appeared in 1916. The hyperinflation in the early 1920s contributed to a greater interest in Fisher's approach. Among those economists who took the equation of exchange not only as a heuristic device, but also made some notable contributions themselves were Schumpeter, Marschak and Neisser.

Suggested Citation

  • Harald Hagemann, 2013. "The impact of Fisher's Purchasing Power of Money in the German Language Area," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 20(2), pages 323-348, April.
    • Handle: RePEc:taf:eujhet:v:20:y:2013:i:2:p:323-348
    DOI: 10.1080/09672567.2012.753699
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    References listed on IDEAS

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    1. David E.W. Laidler, 2016. "The Golden Age of the Quantity Theory," Economics Books, Princeton University Press, edition 1, number 4959.
    2. Hayek, F. A., . "Money, Capital, and Fluctuations," University of Chicago Press Economics Books, University of Chicago Press, number 9780226321271 edited by McCloughry, R. K., August.
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