FEBRUARY 27, 1867 – BIRTH OF IRVING FISHER, MATHEMATICAL ECONOMIST

1867 – BIRTH OF IRVING FISHER, MATHEMATICAL ECONOMIST
“If two parties instead of being a bank and an individual, were an individual and an individual, they could not inflate the circulating medium by loan transaction; for the simple reason that the lender could not lend what he didn't have as banks can do ... Only commercial banks and trust companies can lend money that they manufacture by lending it.” 100% Money (1935)