In the mid-nineteenth century the business cycle was increasingly recognised as a recurrent phenomenon. This edition contains key texts from the range of literature in the field.
Introduction, Thomas N. Carver, ‘A Suggestion for a Theory of Industrial Depressions’, Gustav Cassel, ‘Of Crisis and Bad Times’, Albert Aftalion, ‘The Reality of General Overproduction: Essay on a Theory of General and Periodic Crises’, John A. Hobson, extracts from The Industrial System, Otto Bauer, ‘Otto Bauer’s “Accumulation of Capital”’, John M. Clark, ‘Business Acceleration and the Law of Demand: A Technical Factor in Economic Cycles’, William T. Foster and Waddill Catchings, extract from Business without a Buyer, Mentor Bouniatian, ‘The Theory of Economic Cycles Based on the Tendency toward Excessive Capitalization’, Ragnar Frisch, ‘The Interrelation between Capital Production and Consumer-Taking’, Roy F. Harrod, extract from The Trade Cycle: An Essay, Gottfried Haberler, extract from Prosperity and Depression: A Theoretical Analysis of Cyclical Movements, Paul A. Samuelson, ‘Interactions between the Multiplier Analysis and the Principle of Acceleration’, Paul A. Samuelson, ‘A Synthesis of the Principle of Acceleration and the Multiplier’
