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This work represents the French Regulation School approach to the study of economics. Regulationists focus on the long-term evolution of capitalist economies with a strong emphasis on cross-country comparisons. Their theory centers on the notion of "accumulation regimes", a concept that analyzes ...

This work represents the French Regulation School approach to the study of economics. Regulationists focus on the long-term evolution of capitalist economies with a strong emphasis on cross-country comparisons. Their theory centers on the notion of "accumulation regimes", a concept that analyzes long-wave growth patterns and how those patterns were shaped by five key regulatory mechanisms: 1) forms of competition; 2) the socio-technical system covering all aspects of the capital-labor relation; 3) money; 4) forms of state intervention; and 5) arrangements regulating international economic relations. Methodologically, their approach is very flexible and innovative, ranging from econometric models to interdisciplinary studies.

The economy of any nation is an intricate web of relationships among the factors determining supply and demand--and everything that affects them, from inflation to taxes to the stock market. The study of business cycles attempts to explain why economies grow and contract, experiencing periods of ...

The economy of any nation is an intricate web of relationships among the factors determining supply and demand--and everything that affects them, from inflation to taxes to the stock market. The study of business cycles attempts to explain why economies grow and contract, experiencing periods of prosperity and pain. Consistent with the popular conception of economics as the "dismal science," economists secretly long for recessions (periods of negative growth) and depressions (severe contractions), not because they enjoy their devastating impact on human welfare, but because these downturns serve as excellent laboratories for observing what happens when markets break down. Despite over two centuries of debate, no one has yet definitively unlocked the secrets of economic downturns and how they might be prevented. In Recessions and Depressions, Todd Knoop takes us on a fascinating journey through the history of economic thought, tracing the evolution of business cycle theory. In the process, he presents an accessible introduction to what makes the economy tick, and offers new insights into understanding such historic economic events as the Great Depression, as well as more recent ones, such as the Asian meltdown in the 1990s, the financial crises in Latin America, and the U.S. recession of 2001, from which the United States is still recovering. Knoop reminds us that economists' track record in forecasting business cycles leaves much to be desired, and the quest to fully understand what causes economic downturns--and their effects on individuals and families--continues.