Business Cycles: Their Nature, Cause, and Control

Business Cycles: Their Nature, Cause, and Control

Business Cycles: Their Nature, Cause, and Control

Business Cycles: Their Nature, Cause, and Control

Excerpt

The purpose of this book is to supply a brief, simple, but reasonably comprehensive introduction to the subject of business cycles, including therein some description of cyclical behavior, a survey of business cycle theories, and an analysis of proposed methods of control.

It is hoped that, by having in the compass of a single volume the threefold subject of description, causation, and control, the reader will be better able to see the full scope of cycle problems, and better served in his study of them.

The book is divided into three parts. The first part is concerned with description. It answers the question: What do cycles look like, and what happens to business in the course thereof? The second part has to do with causation. It sets forth the principal theories now current as to why cyclical fluctuations occur. It is mainly expository and indulges only in such limited criticism as will enable the reader to see how one theory may develop into or give place to another. The third part is devoted to the problem of control. It sets forth the various ways by which the extent of economic fluctuations may be reduced, and subjects these proposals to critical analysis.

Select references are given in the brief bibliographies at the end of each part, and appropriate references to specific subjects are made in the course of the chapters. No attempt has been made to develop elaborate footnotes. This book is not a work of research. The materials are familiar, and the author's debt to the literature of business cycles is evident in every chapter.

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