Irving Fisher

Irving Fisher was an influential American economist in the early 20th century, known for his work on interest rates, monetary theory, and economic statistics. He introduced concepts like the Fisher Equation, which relates nominal interest rates, real interest rates, and inflation. Fisher also emphasized the importance of expectations in economics and was a pioneer in studying how these expectations affect investment and consumption. His research laid the groundwork for modern economic theory, and he is remembered for his insightful analyses of the relationship between money and the economy, particularly during the time leading up to the Great Depression.