The Money Illusion (Paperback)

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2009 reprint of 1928 edition. In economics, money illusion refers to the tendency of people to think of currency in nominal, rather than real, terms. This is a fallacy as modern fiat currencies have no inherent value and their real value is derived from their ability to be exchanged for goods and used for payment of taxes. The term was coined by John Maynard Keynes in the early twentieth century, and Irving Fisher 1928 book, The Money Illusion, is one of the most important works on the subject.

Product Details
ISBN: 9781578987610
ISBN-10: 157898761X
Publisher: Martino Fine Books
Publication Date: August 13th, 2009
Pages: 264
Language: English