The Money Illusion High quality books
The Money Illusion
By:Irving Fisher
Published on 2014-03-27 by Simon and Schuster
In economics, money illusion refers to the tendency of people to think of currency in nominal, rather than real, terms. In other words, the numerical/face value (nominal value) of money is mistaken for its purchasing power (real value). This is false, 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. Almost every one is subject to the |Money Illusion| in respect to his own country's currency. This seems to him to be stationary while the money of other countries seems to change. It may seem strange but it is true that we see the rise or fall of foreign money better than we see that of our own.-IRVING FISHER
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Book ID of The Money Illusion's Books is ZWo-AwAAQBAJ, Book which was written byIrving Fisherhave ETAG "CjgaxrL2tRQ"
Book which was published by Simon and Schuster since 2014-03-27 have ISBNs, ISBN 13 Code is 9781627939997 and ISBN 10 Code is 1627939997
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