Governments determine the size of the unit of value just as they determine the length and weight of physical units of measure. What are the different ways that a government can control the size of the unit of value, that is, control the price level? In general, the government designates a...

In this essay, James Tobin discusses Fisher's <link rid="b6">"Elementary Principles of Economics" (1912</link>). This essay was first published in the "American Economic Review: Papers and Proceedings", 87 (May 1997): pp. 430-432. We are grateful to the American Economic Association for permission to republish this...

James Tobin discusses Fisher's compensated dollar plan and Robert Hall's proposal for controlling the price level. Copyright 2005 American Journal of Economics and Sociology, Inc..

In this essay James Tobin reminds us of the importance of Irving Fisher's great book and how that book was favorably received by economists. Fisher presented fundamental definitions and supplied a path breaking exposition of the mathematics of interest rates and their relationship to the...

This essay is reprinted from Eatwell, J., M. Milgate and P. Newman (eds.) "The New Palgrave: A Dictionary of Economics". 1987, 2: 369-376. United Kingdom, London and Basingstoke: The Macmillan Press Limited; New York, N.Y. The Stockton Press and Japan, Maruzen Company Limited. The essay is...