English Explanatory Dictionary

Gibson's paradox

English dictionary entry

Meanings

name
  1. The observation that the rate of interest and the general level of prices are positively correlated.

Word forms

Gibson's paradox

Etymology

Coined by the British economist John Maynard Keynes (1883–1946) in A Treatise on Money (1930; see the quotation), after the British economist Arthur Herbert Gibson, who noted the correlation in a series of articles for Bankers’ Magazine, particularly in its January 1923 and November 1926 issues (though it had previously been noted by the English economist Thomas Tooke (1774–1858)).

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