The Foundations of Business Cycle Theory

by D. P. O'Brien

Overview

The collection covers the foundations of business cycle theory from the mid-nineteenth century through to the work immediately affected by the publication of Keynes's General Theory.

With the revival of interest in real business cycles in the last ten years, these volumes provide a substantial selection of the intellectual achievements in this area developed by previous generations; any of such achievements were temporarily obscured by the success of Keynes's work.

Product Details

ISBN-13:	9781858984223
Publisher:	Edward Elgar Publishing
Publication date:	03/01/1997
Series:	Elgar Mini Series
Pages:	1728
Product dimensions:	6.62(w) x 9.62(h) x (d)

About the Author

Edited by D.P. O’Brien, Emeritus Professor of Economics, University of Durham, UK

Editorial Reviews

Presents 79 reprinted articles dating from 1859 to 1992, beginning with surveys of business cycle theories. Coverage includes reproductions of 19th-century contributions; important parts of Marshallian literature; Wicksellian analysis; large (and predominantly American) literature on disturbances originating in the producer good sector<-->over-investment, acceleration, and investment errors; and five branches of literature: booms and depressions, over-production and under-consumption, the continuing debate over the role of agriculture in the cycle, purely theoretical material, and the influence of Keynes' on the direction, and subsequent decline, of business cycle literature. In conclusion, the editor offers Hicks' reflections of 1981<-->at the bottom of the cycle in ideas<-->on the demise of trade cycle theory. No index. Annotation c. by Book News, Inc., Portland, Or.

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