This non-Austrian economist proposed that an "indestructible" current account and money supply could be created via full-reserve banking in a plan he proposed with Simons et al, the "Chicago plan.
This non-Austrian economist proposed that an "indestructible" current account and money supply could be created via full-reserve banking in a plan he proposed with Simons et al, the "Chicago plan." This economist names a theorem stating that a firm's objective in investment will always be to maximize present value. This economist rejected the notion that equilibrium could be reached as part of his theory that natural economic variation could place too many people in debt and and prompt an onslaught of (*) selling, which would lead to a drop in the price level and contraction - that is his "debt- deflation" hypothesis. An equation named for this economist is often written as "quantity one plus r" times "quantity one plus pi" equals "quantity one plus i." For 10 points, identify this economist who names an equation describing the relationship of the nominal and real interest rates.
This non-Austrian economist proposed that an "indestructible" current account and money supply could be created via full-reserve banking in a plan he proposed with Simons et al, the "Chicago plan.
Irving Fisher