Business Cycles And Their Causes

Business Cycles and Their Causes is a comprehensive book written by Wesley Clair Mitchell, an American economist who is widely regarded as one of the founders of modern business cycle theory. The book provides a detailed analysis of the causes and nature of business cycles, which are the fluctuations in economic activity that occur over time.Mitchell's book is divided into two parts. The first part provides a historical overview of business cycles, tracing their development from the early 19th century to the early 20th century. Mitchell discusses the various theories that have been proposed to explain business cycles, including the classical theory, the Keynesian theory, and the monetarist theory. He also examines the role of government policy in influencing business cycles, and the impact of technological change and international trade on the economy.The second part of the book focuses on the empirical analysis of business cycles. Mitchell presents a detailed statistical analysis of the various economic indicators that are used to track business cycles, including gross domestic product (GDP), employment, and inflation. He also discusses the various methods that economists use to measure the severity and duration of business cycles, and the different types of cycles that can occur, such as short-term and long-term cycles.Overall, Business Cycles and Their Causes is an important contribution to the field of economics, providing a comprehensive and insightful analysis of the nature and causes of business cycles. It is a must-read for anyone interested in understanding the workings of the economy and the factors that influence its fluctuations over time.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.