Books

1911. New York, Macmillan, 1911. 8vo. In the original full cloth. Library-label (University Club of Chicago) pasted on to pasted down front free end-paper. Wear and soiling to extremities. Text on spine faded and "F1" wirtten in white to spine. Cloth loosend to back of spine and a 2 cm long tear to the middle of spine. Book-block, however, firmly attached. Internally fine and clean. XXII, (2), 505 pp. First printing of Fisher's seminal work in which he introduced his famous equation of exchange, known as the Fisher Equation. "No other mathematical formulation in economics, perhaps no other in history save that of Albert Einstein, has enjoyed a greater vogue, and this continues without diminution to our own time." (Galbraith. A History of Economics, Pp. 152-3).The Fisher Equation states MV=PT. (M=stock of money, V= the velocity of circulation of money, P=price level, T=amount of transactions carried out using money)In theory this means that by varying the supply of money, while…