Stabilizing the Dollar.
A plan to stabilize the general price level without fixing individual prices.New York: The Macmillan Company, 1920 Stock Code: 142339
First edition, first printing, presentation copy from the author to his fellow economist John R. Commons, inscribed on the half-title "To Prof. John R. Commons with the compliments and esteem of Irving Fisher. New Years 1920".
Commons, together with Thorstein Veblen and Wesley Clair Mitchell, was one of the three founders of American Institutionalism. His focus was on labour relations, which he worked on while serving as professor of political economy at the University of Wisconsin-Madison. His work, and that of his students, did much to develop social security in the United States.
"Stabilizing the Dollar contained an ingenious scheme for stabilising the purchasing power of money under a convertible gold standard by varying the official price of gold inversely with an index of prices, a system which could be adopted by one country combined with a flexible exchange rate for its currency or by all countries operating with fixed exchange rates" (Blaug.)
Octavo. Original blue cloth, spine lettered in gilt.
A few pencilled annotations to text. Spine sunned, rubbing at extremities. A very good copy.
Fisher M-620; IESS 1920; see Blaug, Great Economists before Keynes. p. 80.
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