Business-Cycle Theory: Its Development and Present Status

Business-Cycle Theory: Its Development and Present Status

Business-Cycle Theory: Its Development and Present Status

Business-Cycle Theory: Its Development and Present Status

Excerpt

In my earlier monograph, Cycles of Prosperity and Depression (1921), I made a study of cyclical fluctuations in the United States, Great Britain, and Germany for the period 1902-1908. After making a classification of various business-cycle theories, I offered certain conclusions, derived from the statistical portions of my study, which supported the monetary theory of the business cycle. Since then I have come to take a less dogmatic position. In the present work I have endeavored to synthesize the views of those writers who have made, as I see it, important contributions to the theory of the business cycle.

While I have drawn upon numerous writers, I have not been concerned to give a detailed analysis of the work of each author; rather, I have sought to show the development and significance of the various theories and their relation to each other.

I have endeavored to present a balanced and unified view of the complex causes of the business-cycle phenomenon. The conclusion drawn from the consideration of these causes is that there is a surprisingly large measure of agreement among the leading business-cycle theorists, despite the apparent irreconcilable antagonism which is often met. Yet, I have tried not to fall . . .

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.