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The 1932 book "Booms and Depressions" by Irving Fisher, along with his 1933 Econometrica paper "The Debt-Deflation theory of Great Depression" earmarked the start of a new era for modern macroeconomics and financial literature. This article reviews the book in light of the current economic and financial scenario.

So, the economy is in crisis. Well, when is it not? The global economy is becoming like that one histrionic person that is always miserable, in shambles and crying for attention.