The rate of interest acts as a link between income-value and capital-value.
"Irving Fisher" was an United States/American Economics/economist, statistician, inventor, and Progressivism in the United States/Progressive social campaigner. He was one of the earliest American Neoclassical economics/neoclassical economists, though his later work on debt deflation has been embraced by the Post-Keynesian economics/Post-Keynesian school. Joseph Schumpeter described him as "the greatest economist the United States has ever produced", an assessment later repeated by James Tobin and Milton Friedman.
Fisher made important contributions to Utility/utility theory and General equilibrium theory/general equilibrium. He was also a pioneer in the rigorous study of intertemporal choice in markets, which led him to develop a theory of capital (economics)/capital and interest rates. His research on the quantity theory of money inaugurated the school of macroeconomic thought known as "monetarism." Fisher was also a pioneer of econometrics, including the development of Index (economics)/index numbers. Some concepts named after him include the Fisher equation, the Fisher hypothesis, the international Fisher effect, and the Fisher separation theorem.If you enjoy these quotes, be sure to check out other famous economists! More Irving Fisher on Wikipedia.