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Irving Fisher
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    (February 27, 1867-April 29, 1947)
    Born in Saugerties, New York
    Pioneer in monetarism and econometrics
    Wrote ‘The Nature of Capital and Income’ (1906), ‘The Purchasing Power of Money’ (1922) and ‘The Theory of Interest’ (1930)
    Namesake for the Fisher equation, Fisher hypothesis, Fisher separation theorem, international Fisher effect, and Fisher market
    He was first president of the American Eugenics Society.
    When his daughter Margaret was diagnosed with schizophrenia, he sent her to a doctor who treated her by removing sections of her colon and bowel, resulting in her death from post-operative infection.
    Nine days before the 1929 stock market crash that led to the Great Depression, he said, ‘Stock prices have reached what looks like a permanently high plateau.’
    For months after the crash, he insisted that a recovery was imminent.
    He graduated first in his class when he earned a B.A. from Yale.
    He earned the first Ph.D. in economics granted by Yale.
    He made a fortune from a card-index filing system that he invented.
    Interest in his debt-deflation theory revived during the recession of the late 2000s.

Credit: C. Fishel

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