Debt, Innovations, and Deflation

The Theories of Veblen, Fisher, Schumpeter, and Minsky

J. Patrick Raines, Dean and Professor of Economics, Belmont University, US and the late Charles G. Leathers, formerly Professor of Economics, University of Alabama, US

In Debt, Innovations, and Deflation, the authors analyze the deflation theories of Thorstein Veblen, Irving Fisher, Joseph A. Schumpeter, and Hyman Minsky. In so doing, they develop a paradigm for understanding the phenomenon of deflation. They explain how technological, organizational, and financial innovations, combined with developments related to the creation and use of debt, give rise to conditions in which both deflation and inflation can be present in the modern economy.

“J。帕特里克•雷恩斯和Charles G. Leathers have produced a remarkable book on a very timely subject. . . the book is a valuable contribution to the literature on the causes of deflation, and how it has been treated by the Fed.’
– Fadhel Kaboub, EH.NET

‘Debt, Innovations, and Deflation is an interesting, enriching read for any non-economist curious about the origins of deflation in the 20th and early 21st century American economy. I would also wholeheartedly recommend this book to any undergraduate studying the field of economics.’
– Zachary Nixon, Heterodox Economics Newsletter