“This year’s best book for investors . . . . Too often, historical perspective on Wall Street means going back a decade or two. Mr Fischer instead traces inflation data from medieval times forward, finding evidence of repeated long patterns of rising prices, followed by long periods of stability. In the process he demolishes some theories of what causes inflation . . . the thesis is both believable and fascinating, and so is the book.” Floyd Norris, New York Times annual survey of books in business and economics, 22 December 1996
“Very persuasive . . . a major work that deserves the attention of all historians.” Nancy Gordon, History, Spring 1997
“Economists can read this book with interest and profit . . .. Fischer is a consummate stylist and meticulous in his attention to details.” Rondo Cameron, Journal of Economic Literature, Fall, 1997
“Phenomenal scope and erudition . . .. Fischer’s history of inflation is a thoroughly good read. He should send the Treasury a copy.” Mark Archer, The Sunday Telegraph, 16 March 1997
“Fascinating reading. Fischer is no sensationalist trying to crank out a pseudo-economic best-seller, but a serious economic historian . . . a book worth chewing on and digesting.” Barton Biggs, Morgan Stanley Dean Witter Investment Perspectives, July 9, 1997
“Important . . .. Fischer’s scholarship is admirable.” Larry Elliott, The Guardian, 4 March 1997
“Superbly written . . . you’ll never glare at a price tag in quite the same way again.” Kay Davidson, San Francisco Examiner, 19 February 1997
“Informative and compelling. . . . A panoramic view of the role of prices and the pernicious effects of inflation down through the ages.” Stanley W. Angrist, Wall Street Journal, 19 December 1996
“A brilliant, bold analysis of the relationship between economics—the prices of things—and human welfare over 800 years. . . . It also allows us to observe an audacious and prodigiously learned historian’s mind at work.” William McFeely, Boston Globe, 17 Nov. 1996
“Sumptuous in detail, charming in prose and provocative in implications . . . Historians will contrive careers out of Fisher’s data.” Andrew Allentuck, Toronto Globe and Mail 14 Dec. 1996
“A provocative and thoughtful tour through history.” The Economist, 19 July 1997
“This is a fascinating book; it is also an important one . . .. Fischer succeeds in demonstrating that there are recurrent waves of price revolutions in human history . . .. His is a powerful piece of historical analysis and ought to become part of everyone’s framework of understanding.” William Rees-Mogg, New Statesman and Society, 14 March 1997
“The best explanation for the wild gyrations at the heart of today’s popular culture I’ve yet seen.” Nathan Greenfield, Ottawa Citizen, May 4, 1997
“Similar to more popular and populist works that spring up like daffodils and last about as long . . .. The Great Wave, in contrast, is the real thing, backed by solid research, not the author’s political leanings . . .. Fischer’s work offers a cautionary story that is readily understandable and surprisingly compelling.” Bill Peschel, The Herald, Feb 16, 1997
“Intriguing. . . . Mr. Fischer looks at a thousand years of European history, and documents with fascinating detail long periods of rising prices that are accompanied by social upheaval and even war, followed by long periods of stable prices accompanied by social calm.” Alan Murray, Wall Street Journal, 10 February 1997
“Important . . .. combining vivid narrative with shrewd dissections of quantitative evidence . . . He has described the past and present in ways that inspire interesting questions and offer novel insights into our condition. Can a historian make a finer contribution?” Thomas Archdeacon, New York Times Book Review, 5 January 1997
“Delightful . . . truly a delightful book . . .. Fischer’s insights, thought-provoking hypotheses, and engaging writing style make The Great Wave a book worthy of our attention.” Dudley Poston, Sinet, August, 1997
“Wise, worthy, and mostly convincing . . . the strength of Fischer’s narrative is the way he manages to intertwine details of everyday life and familiar aspects of history with the complex story of the economic underpinnings of the times.” Alan Earls, Boston Book Review
“Fischer is nothing if not an expert storyteller. He has an unerring instinct for the main narrative line; he decorates with an abundance of detail . . . his book lays out with gentlemanly thoroughness the great questions that fairly leap out of the numbers.” David Warsh, Boston Globe
“Tantalizing . . .. A bold thread coursing through the weave of eight centuries of economic history.” William P. Kucewicz, Markets, April 1997
“Fascinating . . . detailed familiarity with Fischer’s ground-breaking book, and responses to the difficult questions it raises ought to be required of any investment manager claiming knowledge of the future path of inflation.” Malcolm Mitchell, Investment Policy, July-August, 1997
“Very readable . . . in an interesting and informative way, the author reminds us of the real consequences that economic policy has in each person’s life.” Michael Wald, Bureau of Labor Statistics, Monthly Labor Review, April 1997
“Meticulously assembled price records from Mesopotamia to the modern day . . . the conclusion is optimistic.” Edward Whitehouse, Financial Times, London, June 5, 1997
“Informative and readable . . . Fischer combines a lively narrative with cogent analysis and sound advice. Essential for scholarly collections, this fine book will also be appreciated by lay readers.” David Keymer, Library Journal November 1, 1996
“Fascinating historical facts and anecdotes . . . avoids the fog that obscures much academic writing.” David R. Francis, Christian Science Monitor, 24 April 1997
“Fischer is well known for providing new insights into important but seemingly commonplace topics. This he does again in The Great Wave.” William L. Urban, Magill Book Reviews, 1997
“Absorbing narrative . . . economic theorists have long suggested that economic events are cyclic. But in Fischer’s discerning analysis there have been four great price revolutions in western history.” David Rouse, Booklist, October 1, 1996
“A bold overview of how ordinary men and women have been protagonists in a drama that was (in retrospect) nothing less than the modernization of economic life.” Robert Heilbroner, Civilization, 1996
“Fascinating . . .. Although his main purpose—and greatest contribution—is to describe price revolutions, Fischer also takes a stab at explaining why they occur. he boldly declares some preeminent scholars to be embarrassingly wrong. No economist or historian will agree with everything he says. Many will vehemently disagree. But most will learn a great deal.” Lexington Herald-Leader, January 26, 1997
“Monumental . . . History shows that periods of deflation can be periods of prosperity, too. Here’s a strategy for investing in an era of prosperous deflation. Evidence? David H. Fischer’s monumental history of price movements, The Great Wave.” Thomas Easton, Forbes Magazine, November 16, 1998