Business Cycles (1923)

Business Cycles is a seminal work in the field of economics, written by Wesley Clair Mitchell and first published in 1923. The book explores the nature and causes of economic fluctuations, which are often referred to as business cycles. Mitchell argues that these cycles are a natural part of the economic system and that they can have significant impacts on the economy and society as a whole.The book begins by defining what business cycles are and outlining their basic characteristics. Mitchell then goes on to examine the various theories that have been put forward to explain these cycles, including the Austrian School, the Marxian School, and the Keynesian School. He also explores the role of monetary policy in influencing the business cycle.Mitchell's analysis is based on extensive empirical research, and he uses statistical data to support his arguments. He also draws on historical examples to illustrate the impact of business cycles on different industries and societies.Overall, Business Cycles is a comprehensive and insightful analysis of one of the most important phenomena in economics. It remains a classic work in the field and is essential reading for anyone interested in understanding the dynamics of the economy.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.