The Fisher's equation has become a foundation stone of modern macroeconomic, monetary and financial theories. Here it is shown that despite the estabilished status of Fisher's equation, it stands on a rather shaky foundations. URL:[http://www.gipe.ac.in/pdfs/working%20papers/wp24.pdf].

The purpose of this paper is to pursue the implications of closing, in the sense of rendering determinate, the Sraffa equations of production, prices and distribution [Sraffa (1960)] by adding to them demand equations of the type estimated in Stone’s (1954) linear expenditure system. The...