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Toomas Truuvert

First Name: Toomas
Surname: Truuvert
Department Dept of Economics
Supervisor(s): Dr Wylie Bradford , Dr Ed Watts

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Paper Title

Irving Fisher’s conception of interest and social quality theory


Paper outlines the legacy of Fisher’s Theory of Interest for contemporary social quality theory.


This third and final paper outlines association between notions of quality of life, as implicit in Fisher’s Theory of Interest, and societal quality, as explicit in contemporary social quality theory.

Key literature/theoretical perspective

The Theory of Interest (1907, 1911, 1930).


A Janusian perspective.


Two events in Fisher’s early life, promoted a much increased sense of urgency about the timing of societal reform.

Research limitations/implications

As applied to contemporary societal reform, further illuminates the territory surrounding the ‘middle-ground’ between the technical and the psychological explanations for determinants of the rate of interest.

Practical and Social implications

Determines the importance of Fisher’s Theory of Interest as part of the theoretical underpinnings of contemporary social quality theory.


Agio or Time Preference or Impatience and Opportunity Theory of Interest; Conception of Interest; Irving Fisher; Quality of Life; Societal Quality.