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The Theory of Interest by Irving Fisher

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The complete text of The Theory of Interest by Irving Fisher is free to read here, split into 227 chapters totalling 145,071 words.

227 chapters 145,071 words 11 hours

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Chapters

  1. ERRATA102 words
  2. PREFACE1,322 words
  3. SUGGESTIONS TO READERS113 words
  4. §1. Subjective, or Enjoyment, Income547 words
  5. §2. Objective, or Real, Income (Our "Living")272 words
  6. §3. Cost of Living, a Measure of Real Income390 words
  7. §4. Cost of an Article vs. Cost of Its Use514 words
  8. §5. Measuring at the Domestic Threshold188 words
  9. §6. Money Income599 words
  10. §7. Capital Value160 words
  11. §8. The Rate of Interest303 words
  12. §9. Discounting is Fundamental395 words
  13. §10. Costs, or Negative Income300 words
  14. §11. The Discount Principle Applied492 words
  15. §12. Double Entry Bookkeeping1,028 words
  16. §13. Simplicity Underlying Complications799 words
  17. §14. Capital Gain not Income926 words
  18. §15. Capital-Income Relations106 words
  19. §16. Application to this Book260 words
  20. §17. Confusions to be Avoided1,024 words
  21. §18. A Working Concept of the Rate of Interest263 words
  22. §1. Introduction283 words
  23. §2. Assuming Foresight683 words
  24. §3. Limitations of Theory501 words
  25. §4. Real and Money Interest796 words
  26. §1. Introduction807 words
  27. §2. The Exploitation Explanation of Interest1,339 words
  28. §3. Interest Taking Survives all Opposition303 words
  29. §4. Naïve Productivity Explanations1,159 words
  30. §5. Two Other Pitfalls343 words
  31. §1. Preference for Present over Future Income369 words
  32. §2. Reduction to Enjoyment Income969 words
  33. §3. Impatience Depends on Income617 words
  34. §4. Interest and Price Theory262 words
  35. §5. Specifications of Income528 words
  36. §6. The Influence of Mere Size448 words
  37. §7. The Influence of Time Shape990 words
  38. §8. The Influence of Risk1,078 words
  39. §9. The Personal Factor2,424 words
  40. §10. The Personal Factor Summarized610 words
  41. §11. Income Rather Than Capital in the Leading Rôle1,020 words
  42. §12. Impatience Schedules912 words
  43. §1. Hypotheses of First Approximation854 words
  44. §2. Income Prescribed514 words
  45. §3. Equalization of Impatience662 words
  46. §4. Altering Income by Loans1,088 words
  47. §5. Altering Income by Sale1,021 words
  48. §6. Interest Ineradicable441 words
  49. §7. "Marginal" Principle Is "Maximum" Principle564 words
  50. §8. Market Equilibrium696 words
  51. §9. Four Principles97 words
  52. B. Principle of Maximum Desirability78 words
  53. B. Principle of Repayment398 words
  54. §1. The New Hypothesis1,330 words
  55. §2. Optional Income Streams1,252 words
  56. §3. The Two Kinds of Choice1,636 words
  57. §4. Opportunity to Invest by Change of Use of Capital627 words
  58. §5. The Reasoning not "Circular"1,150 words
  59. B. Principle of Maximum Desirability77 words
  60. B. Principle of Repayment191 words
  61. §1. Eligible and Ineligible Options483 words
  62. §2. The Method of Comparative Advantage850 words
  63. §3. The Concept of Rate of Return Over Cost948 words
  64. §4. The Principle of Return over Cost301 words
  65. §5. Marginal Rate of Return Over Cost642 words
  66. §6. The Illustration of Cutting a Forest1,086 words
  67. §7. Other Similar Illustrations296 words
  68. §8. The Case of Perpetual Returns564 words
  69. §9. The General Case370 words
  70. §10. Range of Choice Depends on Interest Rate1,098 words
  71. The Same Principle when the Options Differ by Continuous Gradations.185 words
  72. §12. Interrelation of Human Impatience and Investment Opportunity430 words
  73. §1. Opportunity Reduced to Lowest Terms1,062 words
  74. §2. Investment Opportunity Essential677 words
  75. §3. Options Differing in Time Shape Only510 words
  76. §4. The Imaginary "Hard-Tack" Illustration1,395 words
  77. §5. The Imaginary "Figs" Example352 words
  78. §6. The Imaginary "Sheep" Example508 words
  79. §7. Opportunities as to Repairs, Renewals, Betterments1,827 words
  80. §8. Opportunity to Change the Application of Labor533 words
  81. §9. Fluctuations in Interest Rates Self-Corrective672 words
  82. §10. Wide Opportunities Stabilize Interest228 words
  83. §1. More than One Rate of Interest730 words
  84. §2. Relations Between the Various Rates657 words
  85. §3. Limitations on Loans900 words
  86. §4. Risk and Small Loans582 words
  87. §5. Salability as a Safeguard339 words
  88. §6. General Income Risks576 words
  89. §7. Securities Classified as to Risk1,156 words
  90. §8. Effect of Risk on the Six Principles62 words
  91. A. Empirical Principle69 words
  92. B. Principle of Maximum Present Value209 words
  93. A. Empirical Principle98 words
  94. B. The Principle of Maximum Desirability181 words
  95. A. Principle of Clearing the Market104 words
  96. B. Principle of Repayment566 words
  97. §1. Introduction187 words
  98. §2. The Map of This Year's and Next Year's Income688 words
  99. §3. The Market Line534 words
  100. §4. The Willingness Line585 words
  101. §5. The Two Lines Compared250 words
  102. §6. The Whole Family of Market Lines291 words
  103. §7. Many Families of Willingness Lines399 words
  104. §8. A Typical Family of Willingness Lines396 words
  105. §9. Time Preference May be Negative371 words
  106. §10. The Personal and Impersonal Influences on Impatience212 words
  107. §11. Deciding Whether to Borrow or to Lend503 words
  108. §12. Interest Fixed for an Individual135 words
  109. §13. How an Individual Adjusts his Income Position to the Market577 words
  110. §14. Market Equilibrium790 words
  111. §15. The Four Principles as Charted209 words
  112. §16. The Geometric Method446 words
  113. §17. Relation to Supply and Demand459 words
  114. §1. Introduction285 words
  115. §2. The Investment Opportunity Line341 words
  116. §3. The Individual's Adjustment Without Loans788 words
  117. §4. Individual Adjustment with Loans456 words
  118. §5. The Double Adjustment Discussed894 words
  119. §6. Market Equilibrium523 words
  120. §7. The Nature of the Opportunity Line Discussed1,071 words
  121. §8. Investment Opportunity and Impatience557 words
  122. §9. Can Interest Disappear?990 words
  123. §10. Does Interest Stimulate Saving?163 words
  124. §11. Relation to Supply and Demand Curves259 words
  125. §1. Case of Two Years and Three Individuals461 words
  126. §2. Impatience Principle A (Three Equations)182 words
  127. §3. Impatience Principle B (Three Equations)94 words
  128. §4. Market Principle A (Two Equations)73 words
  129. §6. Counting Equations and Unknowns327 words
  130. §7. Case of m Years and n Individuals63 words
  131. §8. Impatience Principle A (n(m - 1) Equations)228 words
  132. §9. Impatience Principle B (n(m - 1) Equations)301 words
  133. §11. Market Principle B (n Equations)188 words
  134. §12. Counting Equations and Unknowns374 words
  135. §13. Different Rates of Interest for Different Years667 words
  136. §1. Introduction243 words
  137. §2. Impatience Principle A. (n(m—1) Equations)216 words
  138. §3. Impatience Principle B (n(m - 1) Equations)65 words
  139. §4. Market Principle A. (m Equations)53 words
  140. §6. Investment Opportunity Principle A. (n Equations)356 words
  141. §7. Opportunity Principle B. (n(m—1) Equations)139 words
  142. §8. Counting the Equations and Unknowns232 words
  143. §9. Reconciling the Numbers of Equations and Unknowns301 words
  144. §10. Zero or Negative Rates of Interest282 words
  145. §11. The Formula Method Helpful685 words
  146. §1. Introduction341 words
  147. §2. The Six Sets of Formulas Incomplete911 words
  148. §3. Conclusions440 words
  149. §1. Interest Rates and Values of Goods286 words
  150. §2. Interest Rates and Values of Services646 words
  151. §3. Interest Rates and Wages878 words
  152. §4. Interest and Functional Distribution745 words
  153. §5. Interest and Personal Distribution1,319 words
  154. §6. The Loan Market Is a Highway for Re-Distribution535 words
  155. §1. The First Effect of Each Important Discovery and Invention Is to Increase the Rate of Interest366 words
  156. §2. Invention Causes Dispersion of Interest Rates304 words
  157. §3. Invention Causes Revaluation of Capital527 words
  158. §4. The Ultimate Effects of Invention on Interest Rate594 words
  159. §5. The Present an Age of Invention477 words
  160. §6. Mass Production of Inventions777 words
  161. §7. Effects on Investment455 words
  162. §8. Importance of Invention527 words
  163. §1. Personal Loans793 words
  164. §2. Business Loans380 words
  165. §3. Short Term Loans843 words
  166. §4. Long Term Loans410 words
  167. §5. Business vs. Personal Loans1,221 words
  168. §6. Purpose of Borrowing to Increase Present Income146 words
  169. §7. Public Loans572 words
  170. §1. Introduction580 words
  171. §2. Examples of Influence of Personal Characteristics633 words
  172. §3. Examples of Influence of Poverty1,041 words
  173. §4. Examples of Influence of Composition of Income149 words
  174. §5. Examples of Influence of Risk549 words
  175. §6. Examples of Influence of Time Shape993 words
  176. §7. Rising Income Means High Interest Rates1,219 words
  177. §8. Effect of Catastrophes on Interest723 words
  178. §9. Examples of Influence of Periodicity of Income681 words
  179. §10. Summary154 words
  180. §1. Price Changes and Interest Rates536 words
  181. §2. United States Coin and Currency Bonds646 words
  182. §3. Gold and Rupee Bonds1,026 words
  183. §4. Money Interest and Real Interest828 words
  184. §5. Real Interest Varies More Than Money Interest927 words
  185. §6. Interest Rates and Rates of Price Change1,541 words
  186. §7. Short Term Interest Rates and Prices in the United States595 words
  187. §8. Interest Rates and Price Indexes328 words
  188. §9. Elimination of Trends917 words
  189. §10. Relations of Prices and Interest Interpreted1,274 words
  190. §11. Relations of Interest to Business and Prices423 words
  191. §12. Interest Rates and Bank Reserves1,688 words
  192. §13. Summary231 words
  193. §1. Introduction132 words
  194. §2. Income and Capital2,011 words
  195. §3. Cost of Production as a Determinant of Capital Value2,266 words
  196. §4. Impatience as Determinant of the Interest Rate572 words
  197. §5. Productivity as a Determinant of Interest Rates975 words
  198. §6. Technical Superiority of Present Goods3,036 words
  199. §7. Interest as a Cost680 words
  200. §8. Empirical and Institutional Influences on Interest Rates991 words
  201. §9. Conclusion238 words
  202. §1. Interest and Purchasing Power of Money488 words
  203. §2. The Six Principles727 words
  204. §3. The Nature of Investment Opportunity679 words
  205. §4. Investment Opportunity for Society as a Whole1,118 words
  206. §5. Time Preference440 words
  207. §6. Conclusion62 words
  208. §7. The Future276 words
  209. §1 (to Ch. I, § 1) Quotations from Professor Canning's book578 words
  210. §1 (to Ch. X, § 2) [Geometric representation of incomes for three years]496 words
  211. §1 (to Ch. XII, § 1) Algebraic expression of rate of time preference150 words
  212. §2 (to Ch. XII,§3) Equality of marginal rate of time preference and rate of interest implies that desirability of income stream is made a maximum595 words
  213. §1 (to Ch. XIII, § 9) Rate of return over cost expressed in the notation of the calculus57 words
  214. §3 (to Ch. XIII. § 7, also § 9) Mathematical proof that the principle of maximum present value is identical with the principle that the marginal rate of return over cost is equal to the rate of interest.443 words
  215. §4 (to Ch. XIII, § 9) Geometrical explanation of the proposition expounded in § 3 of this Appendix258 words
  216. §5 (to Ch. XIII, § 9) Maximum total desirability is found when rate of time preference is equal to the rate of interest296 words
  217. §6 (to Ch. XIII, § 9) Walras and Pareto525 words
  218. §1 (to Ch. XIX, § 4) Tables giving basic data582 words
  219. §2 (to Ch. XIX, § 6) Tables of interest rates63 words
  220. §1 (to Ch. XX, § 17) Waiting as a Cost2,258 words
  221. 1. Books:344 words
  222. 2. Articles:487 words
  223. 1. Books:332 words
  224. 2. Articles:10,292 words
  225. About Liberty Fund328 words
  226. The Online Library of Liberty235 words
  227. Copyright Information531 words

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