Description
Book SynopsisPresents the empirical data of business cycles and the theories that economists have developed to explain and prevent them, and considers case studies of recessions and depressions in the United States and internationally.Despite more than two centuries of debate, a definitive explanation of the causes of economic cycles still does not exist. Economists, politicians, and policymakers have argued many well-known theories as to why these peaks and slumps occur, and cyclical recessions and depressions continue in spite of the enormous intellectual reserves working to prevent them. This timely analysis presents a comprehensive overview of global economics, assessing older theories alongside of new ways of thinking to reveal the empirical methods needed to evaluate, forecast, and prevent future crises.Educator and economist Todd Knoop provides explanations of influential macroeconomic theories that have shaped modern economics, such as Keynesian economics, Neoclassical economics, Austrian e
Trade ReviewThere is much to like about this latest book by Knoop (Cornell College, Iowa). It is probably the most comprehensive, thorough, and balanced treatment of a topic that has been hotly debated in the discipline since William Stanley Jevons proposed the sunspot theory in the 1880s. The author delivers on his promise to write a non-technical narrative that is accessible to non-specialist readers. . . . This book will stir students' curiosity and encourage their research. Summing Up: Highly recommended. Upper-division undergraduates through researchers and faculty. * Choice *
