[Rezension zu] Irving Fisher: Der schwankende Geldwert

Friedrich August von Hayek: Review of Irving Fisher, Der schwankende Geldwert (1925)

Hayek’s brief review assesses the German translation of Fisher’s own abridgment of his book on dollar stabilization, prepared for L. D. Edie’s The Stabilization of Business. Its concern is the edition’s suitability for scholarly discussion, not the merits of Fisher’s monetary plan.

Gegenüber der vollständigeren Fassung ist die Darstellung nicht nur wesentlich gekürzt, sondern auch stark popularisiert.

English translation: As against the more complete version, the presentation is not only substantially abridged but also strongly popularized.

This distinction grounds Hayek’s regret that the publisher did not undertake a complete translation. German readers, he argues, need a basis for scientific examination rather than advocacy for adopting Fisher’s plan.

Dazu wird aber der Fachmann auch weiterhin nach dem Originalwerk greifen müssen.

English translation: For that, however, the specialist will still have to reach for the original work.

The review thus moves from identifying the translation’s scope to distinguishing specialist requirements from introductory usefulness. Its final judgment is qualified praise: Hayek sees genuine pedagogical value in a publication he considers insufficient for scholarly scrutiny.

Als Einführung in die Vorschläge Fishers für den Studenten wird die Übersetzung allerdings vorzügliche Dienste leisten und ihnen auch in Deutschland die verdiente Aufmerksamkeit sichern helfen.

English translation: As an introduction for the student to Fisher's proposals, however, the translation will render excellent service and will help to secure for them in Germany too the attention they deserve.