"WITH THE COMPLIMENTS AND LOVE OF IRVING FISHER": FIRST EDITION, PRESENTATION COPY, OF THE MONEY ILLUSION, WARMLY INSCRIBED BY FISHER TO FELLOW STABLE MONEY ADVOCATE RALPH WESCOTT, IN SCARCE ORIGINAL DUST JACKET
FISHER, Irving. The Money Illusion. New York: Alephi Company, (1928). Small octavo, original green cloth, original dust jacket. Housed in a custom clamshell box. $8500.
First edition, presentation/association copy, of this analysis of currency instability by America's first great economist, warmly inscribed by Fisher in the year of publication to a fellow stable money proponent, "To Mr. Ralph W. Wescott with the compliments and love of Irving Fisher, August, 1928."
"While [Fisher's] was a prominent voice in American public discourse for some three decades, his influence has been most enduring in government uses of economic quantification and within the discipline of economics itself… His work has inspired a huge professional literature, both in the more abstract and in applied areas of economic research" (ANB). In The Money Illusion (a book based upon a series of lectures Fisher delivered at the Geneva School of International Studies), Fisher discusses the "hidden causes" and "harm[ful] results" of "all monetary units, including the dollar" (Preface). During the 1920s, Fisher actively supported the League of Nations. He campaigned for pro-League presidential candidate James Cox, and also spearheaded the Pro-League Independents. Recipient Ralph Wescott was an Independents staff member. In addition, Wescott was affiliated with the Stable Money League, which Fisher founded to promote a course of steadying money's value by adjusting appropriately the dollar's exchange rate against gold.
Book very nearly fine with interior clean, slightest rubbing to spine ends. Fragile and scarce original dust jacket bright and very good, with mild toning to spine, light edge-wear including shallow chipping to spine head and front panel. A desirable inscribed presentation/association copy in near-fine condition.